TechnipFMC plc (NYSE:FTI) Shares Purchased by Sigma Planning Corp

Sigma Planning Corp grew its holdings in shares of TechnipFMC plc (NYSE:FTI) by 32.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,164 shares of the oil and gas company’s stock after purchasing an additional 2,743 shares during the period. Sigma Planning Corp’s holdings in TechnipFMC were worth $293,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in shares of TechnipFMC by 8.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after purchasing an additional 3,259,348 shares in the last quarter. Vanguard Group Inc. grew its holdings in TechnipFMC by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock worth $1,005,652,000 after acquiring an additional 134,880 shares in the last quarter. Hardman Johnston Global Advisors LLC increased its position in shares of TechnipFMC by 13.5% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after purchasing an additional 1,071,103 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of TechnipFMC by 2.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock worth $228,384,000 after purchasing an additional 204,435 shares during the last quarter. Finally, Anomaly Capital Management LP grew its stake in TechnipFMC by 50.3% in the second quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock worth $89,429,000 after purchasing an additional 1,144,087 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FTI. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, October 29th. TD Cowen lifted their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Susquehanna increased their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Barclays lifted their price target on shares of TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Finally, StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, TechnipFMC presently has an average rating of “Buy” and a consensus price target of $33.60.

TechnipFMC Price Performance

NYSE FTI opened at $28.18 on Friday. The company has a 50-day moving average price of $26.54 and a two-hundred day moving average price of $26.36. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 18.54 and a beta of 1.51. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 52 week low of $18.33 and a 52 week high of $29.85.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the firm earned $0.21 EPS. The firm’s revenue was up 14.2% compared to the same quarter last year. Analysts forecast that TechnipFMC plc will post 1.47 EPS for the current year.

TechnipFMC declared that its board has approved a stock buyback plan 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Tuesday, November 19th. TechnipFMC’s dividend payout ratio is currently 13.16%.

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.