Brighton Jones LLC Has $2.30 Million Stock Position in TechnipFMC plc $FTI

Brighton Jones LLC increased its stake in shares of TechnipFMC plc (NYSE:FTI) by 62.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 58,171 shares of the oil and gas company’s stock after acquiring an additional 22,379 shares during the period. Brighton Jones LLC’s holdings in TechnipFMC were worth $2,295,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Fiduciary Financial Group LLC bought a new stake in shares of TechnipFMC during the 3rd quarter worth approximately $420,000. Riversedge Advisors LLC acquired a new position in TechnipFMC during the third quarter worth $220,000. Sheets Smith Investment Management bought a new stake in TechnipFMC during the third quarter worth $957,000. GAMMA Investing LLC lifted its stake in TechnipFMC by 23.9% in the third quarter. GAMMA Investing LLC now owns 3,294 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 635 shares during the last quarter. Finally, Osaic Holdings Inc. grew its position in shares of TechnipFMC by 3.9% in the 2nd quarter. Osaic Holdings Inc. now owns 46,246 shares of the oil and gas company’s stock valued at $1,592,000 after acquiring an additional 1,720 shares during the period. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $44.98 on Tuesday. The firm has a market cap of $18.19 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 1.06 and a beta of 0.68. The business’s 50 day moving average is $42.79 and its 200-day moving average is $38.56. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $47.33.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS. Equities research analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC declared that its Board of Directors has approved a stock buyback program on Wednesday, October 22nd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 13.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Tuesday, November 18th were paid a $0.05 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $0.20 annualized dividend and a yield of 0.4%. TechnipFMC’s payout ratio is 8.93%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FTI shares. Royal Bank Of Canada upped their target price on shares of TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Jefferies Financial Group boosted their price target on TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. BNP Paribas Exane raised TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 price objective for the company in a research report on Friday, October 10th. UBS Group reiterated an “outperform” rating on shares of TechnipFMC in a research note on Tuesday, October 28th. Finally, Citigroup boosted their target price on TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.92.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.