Ethic Inc. Increases Holdings in TechnipFMC plc $FTI

Ethic Inc. boosted its position in shares of TechnipFMC plc (NYSE:FTI) by 286.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,725 shares of the oil and gas company’s stock after purchasing an additional 70,196 shares during the quarter. Ethic Inc.’s holdings in TechnipFMC were worth $3,737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in FTI. Blue Trust Inc. grew its holdings in TechnipFMC by 5,475.0% during the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 657 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 340 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in TechnipFMC during the second quarter valued at approximately $44,000. Ossiam raised its stake in TechnipFMC by 52.0% in the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock worth $55,000 after buying an additional 546 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in TechnipFMC by 82.5% in the second quarter. New York State Teachers Retirement System now owns 1,927 shares of the oil and gas company’s stock worth $66,000 after buying an additional 871 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FTI. Piper Sandler raised their price target on shares of TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. JPMorgan Chase & Co. raised their target price on shares of TechnipFMC from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Weiss Ratings restated a “buy (b)” rating on shares of TechnipFMC in a report on Wednesday, October 8th. UBS Group reiterated an “outperform” rating on shares of TechnipFMC in a research note on Tuesday, October 28th. Finally, Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and an average target price of $46.92.

TechnipFMC Trading Up 1.2%

FTI stock opened at $45.22 on Wednesday. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $47.33. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a market cap of $18.29 billion, a P/E ratio of 20.19, a PEG ratio of 1.06 and a beta of 0.68. The company’s 50-day simple moving average is $43.85 and its 200-day simple moving average is $39.04.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (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 analysts’ expectations of $2.60 billion. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. As a group, equities analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC announced that its board has initiated a stock buyback program 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 repurchase up to 13.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

TechnipFMC Announces Dividend

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

About TechnipFMC

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.