TechnipFMC plc (NYSE:FTI) Shares Bought by Sigma Planning Corp

Sigma Planning Corp grew its position in TechnipFMC plc (NYSE:FTI) by 32.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,164 shares of the oil and gas company’s stock after purchasing an additional 2,743 shares during the quarter. Sigma Planning Corp’s holdings in TechnipFMC were worth $293,000 at the end of the most recent reporting period.

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

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $28.18 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The company has a market cap of $11.99 billion, a PE ratio of 18.54 and a beta of 1.51. The company has a 50-day simple moving average of $26.54 and a 200-day simple moving average of $26.36. TechnipFMC plc has a 12 month low of $18.33 and a 12 month high of $29.85.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.25. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. TechnipFMC’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 EPS. On average, equities analysts anticipate that TechnipFMC plc will post 1.47 earnings per share for the current year.

TechnipFMC declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.71%. TechnipFMC’s dividend payout ratio (DPR) is presently 13.16%.

Analyst Ratings Changes

A number of brokerages recently weighed in on FTI. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Tuesday, October 29th. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets upped their price objective on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. Bank of America lifted their target price on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Citigroup upped their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $33.60.

TechnipFMC Company 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.