Impact Partnership Wealth LLC Makes New $216,000 Investment in TechnipFMC plc (NYSE:FTI)

Impact Partnership Wealth LLC purchased a new position in TechnipFMC plc (NYSE:FTI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,245 shares of the oil and gas company’s stock, valued at approximately $216,000.

Several other large investors also recently modified their holdings of FTI. Norden Group LLC boosted its position in shares of TechnipFMC by 2,899.1% during the first quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock worth $9,514,000 after buying an additional 366,266 shares during the period. Edgestream Partners L.P. acquired a new position in shares of TechnipFMC during the first quarter worth about $965,000. Atria Investments Inc acquired a new position in shares of TechnipFMC during the first quarter worth about $1,684,000. Raymond James & Associates boosted its position in shares of TechnipFMC by 12.0% during the second quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company’s stock worth $8,875,000 after buying an additional 36,326 shares during the period. Finally, Diversify Advisory Services LLC acquired a new position in shares of TechnipFMC during the first quarter worth about $848,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $25.86 on Friday. The firm has a market cap of $11.14 billion, a P/E ratio of 55.02 and a beta of 1.50. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. TechnipFMC plc has a 1-year low of $18.33 and a 1-year high of $29.85. The business’s 50 day moving average is $26.14 and its 200-day moving average is $26.18.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.23 billion. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 earnings per share. Equities research analysts predict that TechnipFMC plc will post 1.37 earnings per share for the current year.

TechnipFMC declared that its board has approved a share buyback program on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.77%. TechnipFMC’s dividend payout ratio (DPR) is currently 42.55%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Bank of America upped their price objective on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Susquehanna increased their price target on TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research report on Friday, July 26th. BMO Capital Markets increased their price target on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. Citigroup increased their price target on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.74.

About TechnipFMC

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.