Avior Wealth Management LLC Raises Stake in TechnipFMC plc (NYSE:FTI)

Avior Wealth Management LLC raised its holdings in TechnipFMC plc (NYSE:FTI) by 4,558.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 13,556 shares of the oil and gas company’s stock after acquiring an additional 13,265 shares during the period. Avior Wealth Management LLC’s holdings in TechnipFMC were worth $356,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in TechnipFMC by 12.6% in the third quarter. PNC Financial Services Group Inc. now owns 213,539 shares of the oil and gas company’s stock valued at $5,601,000 after purchasing an additional 23,893 shares during the period. Pathstone Holdings LLC boosted its holdings in shares of TechnipFMC by 1.5% in the 3rd quarter. Pathstone Holdings LLC now owns 113,624 shares of the oil and gas company’s stock valued at $2,980,000 after purchasing an additional 1,714 shares during the last quarter. Mount Lucas Management LP grew its stake in shares of TechnipFMC by 2.6% during the 3rd quarter. Mount Lucas Management LP now owns 43,612 shares of the oil and gas company’s stock valued at $1,144,000 after buying an additional 1,094 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in shares of TechnipFMC by 24.4% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,536,710 shares of the oil and gas company’s stock worth $40,306,000 after buying an additional 301,329 shares during the last quarter. Finally, Natixis Advisors LLC raised its position in shares of TechnipFMC by 14.6% in the 3rd quarter. Natixis Advisors LLC now owns 109,330 shares of the oil and gas company’s stock worth $2,868,000 after buying an additional 13,889 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

FTI has been the subject of a number of research reports. Royal Bank of Canada started coverage on TechnipFMC in a report on Monday, November 18th. They set an “outperform” rating and a $37.00 target price for the company. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Tuesday, October 29th. Barclays lifted their target price on shares of TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, October 28th. TD Cowen increased their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Citigroup boosted their price objective on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, TechnipFMC presently has a consensus rating of “Buy” and a consensus target price of $33.91.

TechnipFMC Trading Up 2.7 %

FTI opened at $30.83 on Friday. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $30.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The stock has a market capitalization of $13.12 billion, a PE ratio of 20.28 and a beta of 1.51. The firm’s fifty day moving average price is $27.10 and its 200 day moving average price is $26.48.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.21 EPS. As a group, research analysts expect that TechnipFMC plc will post 1.55 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.65%. TechnipFMC’s dividend payout ratio (DPR) is 13.16%.

TechnipFMC announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.