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

Impact Partnership Wealth LLC acquired a new position in shares of TechnipFMC plc (NYSE:FTI) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 8,245 shares of the oil and gas company’s stock, valued at approximately $216,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. increased its stake in shares of TechnipFMC by 56.7% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,954,356 shares of the oil and gas company’s stock valued at $74,184,000 after purchasing an additional 1,068,788 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of TechnipFMC by 43.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,405 shares of the oil and gas company’s stock valued at $211,000 after purchasing an additional 2,543 shares during the last quarter. Norden Group LLC increased its stake in shares of TechnipFMC by 2,899.1% in the 1st quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock valued at $9,514,000 after purchasing an additional 366,266 shares during the last quarter. Oak Harvest Investment Services bought a new position in shares of TechnipFMC in the 1st quarter valued at $1,186,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of TechnipFMC by 367.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,549 shares of the oil and gas company’s stock valued at $89,000 after purchasing an additional 2,790 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Up 2.8 %

Shares of FTI opened at $25.86 on Friday. The company has a market capitalization of $11.14 billion, a PE ratio of 55.02 and a beta of 1.50. TechnipFMC plc has a 12 month low of $18.33 and a 12 month high of $29.85. The stock’s 50-day moving average price is $26.14 and its two-hundred day moving average price is $26.18. 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 (NYSE:FTI) last announced its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.31 by $0.12. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.23 billion. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. On average, analysts anticipate that TechnipFMC plc will post 1.37 EPS for the current year.

TechnipFMC declared that its board has authorized a stock buyback program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

TechnipFMC Dividend Announcement

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

Wall Street Analyst Weigh In

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

TechnipFMC 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.