TechnipFMC plc (NYSE:FTI) is Algert Global LLC’s 6th Largest Position

Algert Global LLC increased its position in shares of TechnipFMC plc (NYSE:FTI) by 44.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 677,700 shares of the oil and gas company’s stock after acquiring an additional 206,927 shares during the quarter. TechnipFMC comprises 0.5% of Algert Global LLC’s holdings, making the stock its 6th biggest position. Algert Global LLC’s holdings in TechnipFMC were worth $17,776,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FTI. Janney Montgomery Scott LLC purchased a new stake in TechnipFMC in the first quarter valued at about $205,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in TechnipFMC in the 1st quarter worth approximately $442,000. Pitcairn Co. purchased a new stake in TechnipFMC during the 1st quarter worth approximately $232,000. Quadrature Capital Ltd acquired a new position in TechnipFMC during the 1st quarter valued at approximately $719,000. Finally, 1832 Asset Management L.P. lifted its stake in shares of TechnipFMC by 70.6% during the first quarter. 1832 Asset Management L.P. now owns 54,735 shares of the oil and gas company’s stock worth $1,374,000 after buying an additional 22,645 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FTI has been the topic of several research reports. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Tuesday, October 29th. BMO Capital Markets upped their target price on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. Royal Bank of Canada initiated coverage on shares of TechnipFMC in a research report on Monday, November 18th. They set an “outperform” rating and a $37.00 price target for the company. Finally, Bank of America upped their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $33.91.

TechnipFMC Stock Up 2.7 %

FTI stock opened at $30.83 on Friday. The firm’s fifty day moving average is $27.10 and its 200 day moving average is $26.48. The firm has a market cap of $13.12 billion, a PE ratio of 20.28 and a beta of 1.51. TechnipFMC plc has a one year low of $18.33 and a one year high of $30.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating 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%. TechnipFMC’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 EPS. On average, research analysts forecast that TechnipFMC plc will post 1.56 EPS for the current year.

TechnipFMC Dividend Announcement

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 dividend of $0.05 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.65%. TechnipFMC’s dividend payout ratio (DPR) is 13.16%.

TechnipFMC announced that its Board of Directors has initiated a stock buyback plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.