Cerity Partners LLC Purchases 139,169 Shares of TechnipFMC plc $FTI

Cerity Partners LLC boosted its position in TechnipFMC plc (NYSE:FTI) by 35.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 537,128 shares of the oil and gas company’s stock after buying an additional 139,169 shares during the quarter. Cerity Partners LLC’s holdings in TechnipFMC were worth $21,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Great Lakes Advisors LLC boosted its stake in shares of TechnipFMC by 17.6% in the 1st quarter. Great Lakes Advisors LLC now owns 15,467 shares of the oil and gas company’s stock valued at $490,000 after purchasing an additional 2,315 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in TechnipFMC by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,139,326 shares of the oil and gas company’s stock valued at $36,105,000 after buying an additional 53,206 shares during the period. Focus Partners Wealth grew its stake in shares of TechnipFMC by 27.2% during the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after buying an additional 5,161 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after buying an additional 340 shares during the period. Finally, Strs Ohio bought a new stake in shares of TechnipFMC in the 1st quarter valued at about $8,113,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

FTI stock opened at $50.06 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $50.44. The firm has a 50-day moving average of $45.01 and a 200 day moving average of $39.69. The company has a market cap of $20.25 billion, a P/E ratio of 22.35, a PEG ratio of 0.97 and a beta of 0.66.

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

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Tuesday, November 18th were issued a $0.05 dividend. 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 is 8.93%.

TechnipFMC announced that its board has authorized a share buyback program on Wednesday, October 22nd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 13.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FTI shares. Susquehanna raised their price target on TechnipFMC from $48.00 to $56.00 and gave the stock a “positive” rating in a research report on Wednesday. Jefferies Financial Group raised their target price on shares of TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Cowen reiterated a “buy” rating on shares of TechnipFMC in a report on Wednesday. Citigroup raised their price target on shares of TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.46.

TechnipFMC 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.