Independent Advisor Alliance Has $1.66 Million Position in TechnipFMC plc (NYSE:FTI)

Independent Advisor Alliance cut its position in shares of TechnipFMC plc (NYSE:FTI) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,369 shares of the oil and gas company’s stock after selling 628 shares during the period. Independent Advisor Alliance’s holdings in TechnipFMC were worth $1,662,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. increased its position in TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after buying an additional 735 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of TechnipFMC during the 3rd quarter worth approximately $30,000. GAMMA Investing LLC increased its holdings in shares of TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 492 shares during the last quarter. ORG Partners LLC bought a new stake in TechnipFMC in the 2nd quarter valued at $33,000. Finally, Crewe Advisors LLC bought a new position in TechnipFMC during the second quarter worth $51,000. 96.58% of the stock is owned by institutional investors.

TechnipFMC Trading Up 1.3 %

Shares of TechnipFMC stock opened at $31.04 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $31.06. The company has a market capitalization of $13.21 billion, a price-to-earnings ratio of 20.42 and a beta of 1.51. The firm’s 50-day moving average price is $27.21 and its two-hundred day moving average price is $26.50.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business posted $0.21 EPS. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, analysts forecast that TechnipFMC plc will post 1.56 earnings per share for the current fiscal year.

TechnipFMC announced that its board has authorized a stock repurchase plan on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. TechnipFMC’s dividend payout ratio (DPR) is currently 13.16%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays raised their target price on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Royal Bank of Canada initiated coverage on TechnipFMC in a report on Monday, November 18th. They set an “outperform” rating and a $37.00 price objective for the company. BMO Capital Markets increased their target price on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. TD Cowen upped their price objective on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Susquehanna lifted their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $33.91.

TechnipFMC Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.