AE Wealth Management LLC Increases Stake in TechnipFMC plc $FTI

AE Wealth Management LLC raised its stake in TechnipFMC plc (NYSE:FTI) by 38.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 183,603 shares of the oil and gas company’s stock after acquiring an additional 50,593 shares during the quarter. AE Wealth Management LLC’s holdings in TechnipFMC were worth $7,243,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FTI. Focus Partners Wealth lifted its stake in shares of TechnipFMC by 27.2% in the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after purchasing an additional 5,161 shares during the period. Geneos Wealth Management Inc. increased its holdings in 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 valued at $35,000 after buying an additional 340 shares in the last quarter. Sivia Capital Partners LLC raised its position in shares of TechnipFMC by 76.1% in the second quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock worth $508,000 after acquiring an additional 6,381 shares during the period. Farther Finance Advisors LLC raised its position in shares of TechnipFMC by 24.1% in the second quarter. Farther Finance Advisors LLC now owns 3,548 shares of the oil and gas company’s stock worth $122,000 after acquiring an additional 689 shares during the period. Finally, Truist Financial Corp boosted its stake in shares of TechnipFMC by 12.1% during the 2nd quarter. Truist Financial Corp now owns 48,819 shares of the oil and gas company’s stock worth $1,681,000 after acquiring an additional 5,252 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Trading Down 0.4%

Shares of FTI opened at $55.70 on Friday. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $56.93. The stock has a market cap of $22.53 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 1.09 and a beta of 0.66. The firm’s fifty day moving average is $48.09 and its two-hundred day moving average is $41.63. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14.

TechnipFMC declared 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 purchase 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 stock is undervalued.

Analyst Ratings Changes

Several brokerages recently weighed in on FTI. Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Barclays boosted their price objective on TechnipFMC from $51.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. UBS Group reiterated an “outperform” rating on shares of TechnipFMC in a research report on Tuesday, October 28th. Royal Bank Of Canada lifted their price target on shares of TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Finally, TD Cowen restated a “buy” rating on shares of TechnipFMC in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

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.