TechnipFMC plc (NYSE:FTI) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC lowered its position in shares of TechnipFMC plc (NYSE:FTI) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,484 shares of the oil and gas company’s stock after selling 1,072 shares during the period. Avior Wealth Management LLC’s holdings in TechnipFMC were worth $361,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FTI. Bank of Montreal Can increased its position in TechnipFMC by 97.4% in the 2nd quarter. Bank of Montreal Can now owns 16,609 shares of the oil and gas company’s stock valued at $434,000 after acquiring an additional 8,193 shares during the period. Marshall Wace LLP acquired a new position in TechnipFMC in the 2nd quarter valued at about $1,390,000. AQR Capital Management LLC increased its position in TechnipFMC by 391.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,036,797 shares of the oil and gas company’s stock valued at $27,112,000 after acquiring an additional 825,842 shares during the period. Algert Global LLC increased its position in TechnipFMC by 16.0% in the 2nd quarter. Algert Global LLC now owns 470,773 shares of the oil and gas company’s stock valued at $12,311,000 after acquiring an additional 64,831 shares during the period. Finally, Creative Planning increased its position in TechnipFMC by 3.2% in the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock valued at $455,000 after acquiring an additional 546 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $31.40 on Monday. The business’s 50 day simple moving average is $30.71 and its 200-day simple moving average is $28.12. The firm has a market capitalization of $13.36 billion, a price-to-earnings ratio of 20.66 and a beta of 1.54. 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 12 month low of $18.53 and a 12 month high of $33.45.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data 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. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the firm posted $0.21 EPS. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, equities analysts forecast that TechnipFMC plc will post 1.62 earnings per share for the current fiscal year.

TechnipFMC declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FTI shares. TD Cowen restated a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a research report on Wednesday, November 27th. Royal Bank of Canada began coverage on TechnipFMC in a research report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price target on the stock. Barclays lifted their price objective on TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group began coverage on TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective on the stock. Finally, Citigroup lifted their price objective on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $36.15.

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.