Diversified Trust Co Increases Position in TechnipFMC plc (NYSE:FTI)

Diversified Trust Co boosted its position in TechnipFMC plc (NYSE:FTI) by 68.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,281 shares of the oil and gas company’s stock after acquiring an additional 24,989 shares during the quarter. Diversified Trust Co’s holdings in TechnipFMC were worth $1,773,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Insight Wealth Strategies LLC purchased a new position in shares of TechnipFMC during the 4th quarter valued at about $4,088,000. GAMMA Investing LLC grew its position in TechnipFMC by 22.3% during the fourth quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 414 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of TechnipFMC by 23.0% during the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after acquiring an additional 679,748 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of TechnipFMC by 264.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,783 shares of the oil and gas company’s stock worth $755,000 after acquiring an additional 20,877 shares during the last quarter. Finally, Morse Asset Management Inc boosted its stake in shares of TechnipFMC by 1.9% in the 3rd quarter. Morse Asset Management Inc now owns 67,575 shares of the oil and gas company’s stock valued at $1,772,000 after purchasing an additional 1,245 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

FTI has been the topic of a number of analyst reports. Citigroup lifted their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets raised their price target on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. TD Cowen reissued a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday, November 27th. Finally, Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and lifted their target price for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $35.92.

TechnipFMC Price Performance

FTI stock opened at $32.48 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. TechnipFMC plc has a 1 year low of $18.33 and a 1 year high of $32.64. The firm has a 50-day moving average of $29.67 and a 200 day moving average of $27.59. The company has a market cap of $13.82 billion, a P/E ratio of 21.37 and a beta of 1.54.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.25. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 EPS. On average, sell-side analysts forecast that TechnipFMC plc will post 1.61 EPS for the current year.

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

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Tuesday, November 19th. TechnipFMC’s dividend payout ratio is presently 13.16%.

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.