True Wealth Design LLC Acquires New Holdings in TechnipFMC plc (NYSE:FTI)

True Wealth Design LLC bought a new position in TechnipFMC plc (NYSE:FTI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,156 shares of the oil and gas company’s stock, valued at approximately $57,000.

Several other large investors also recently made changes to their positions in FTI. Atria Investments Inc bought a new position in TechnipFMC in the 1st quarter worth approximately $1,684,000. GAMMA Investing LLC increased its holdings in shares of TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 492 shares during the period. Fulton Bank N.A. raised its stake in shares of TechnipFMC by 21.7% during the second quarter. Fulton Bank N.A. now owns 19,279 shares of the oil and gas company’s stock valued at $504,000 after purchasing an additional 3,432 shares in the last quarter. SG Americas Securities LLC lifted its holdings in TechnipFMC by 0.4% in the second quarter. SG Americas Securities LLC now owns 214,794 shares of the oil and gas company’s stock worth $5,617,000 after purchasing an additional 916 shares during the period. Finally, ORG Partners LLC bought a new position in TechnipFMC in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on FTI. Susquehanna boosted their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research report on Friday, October 25th. TD Cowen restated a “buy” rating and issued a $37.00 target price on shares of TechnipFMC in a research report on Wednesday. Barclays increased their price target on TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada began coverage on TechnipFMC in a research note on Monday, November 18th. They set an “outperform” rating and a $37.00 target price for the company. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $33.91.

TechnipFMC Price Performance

NYSE FTI opened at $31.37 on Friday. 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 1 year low of $18.33 and a 1 year high of $31.53. The company has a market cap of $13.35 billion, a PE ratio of 20.64 and a beta of 1.51. The stock’s 50-day moving average price is $27.61 and its two-hundred day moving average price is $26.63.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the firm posted $0.21 earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, analysts predict that TechnipFMC plc will post 1.58 EPS for the current year.

TechnipFMC announced that its Board of Directors has initiated a stock repurchase 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 generally an indication that the company’s management believes its shares are undervalued.

TechnipFMC Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. TechnipFMC’s dividend payout ratio (DPR) is presently 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.