Ellsworth Advisors LLC Invests $4.44 Million in TechnipFMC plc $FTI

Ellsworth Advisors LLC bought a new stake in TechnipFMC plc (NYSE:FTI) in the third quarter, Holdings Channel reports. The institutional investor bought 112,655 shares of the oil and gas company’s stock, valued at approximately $4,444,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Inc. increased its holdings in TechnipFMC by 26.2% during the 1st quarter. Raymond James Financial Inc. now owns 399,126 shares of the oil and gas company’s stock valued at $12,648,000 after purchasing an additional 82,902 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of TechnipFMC by 46.8% during the first quarter. Canada Pension Plan Investment Board now owns 422,500 shares of the oil and gas company’s stock worth $13,389,000 after purchasing an additional 134,700 shares during the last quarter. Driehaus Capital Management LLC increased its stake in shares of TechnipFMC by 3.7% in the first quarter. Driehaus Capital Management LLC now owns 1,750,068 shares of the oil and gas company’s stock valued at $55,460,000 after buying an additional 62,633 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of TechnipFMC by 15.6% in the first quarter. Vident Advisory LLC now owns 9,218 shares of the oil and gas company’s stock valued at $292,000 after buying an additional 1,241 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in TechnipFMC during the 1st quarter worth about $500,000. 96.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Citigroup boosted their price objective on shares of TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Barclays upped their price objective on TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. BNP Paribas set a $47.00 target price on TechnipFMC and gave the stock an “outperform” rating in a research report on Friday, October 10th. Finally, BNP Paribas Exane raised TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 price target on the stock in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.92.

TechnipFMC Price Performance

FTI opened at $44.63 on Friday. The company has a fifty day moving average price of $43.51 and a two-hundred day moving average price of $38.82. The firm has a market capitalization of $18.05 billion, a PE ratio of 19.92, a P/E/G ratio of 1.06 and a beta of 0.68. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $47.33. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13.

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

TechnipFMC announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 22nd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 13.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Tuesday, November 18th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.4%. TechnipFMC’s dividend payout ratio (DPR) is 8.93%.

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.