Daiwa Securities Group Inc. Invests $393,000 in TechnipFMC plc (NYSE:FTI)

Daiwa Securities Group Inc. acquired a new stake in shares of TechnipFMC plc (NYSE:FTI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,000 shares of the oil and gas company’s stock, valued at approximately $393,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FTI. Oak Thistle LLC boosted its holdings in shares of TechnipFMC by 3.2% in the 2nd quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company’s stock valued at $358,000 after buying an additional 421 shares in the last quarter. Pallas Capital Advisors LLC boosted its stake in TechnipFMC by 5.1% in the second quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company’s stock valued at $246,000 after acquiring an additional 433 shares in the last quarter. GAMMA Investing LLC grew its holdings in TechnipFMC by 73.1% in the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 492 shares during the last quarter. Ballentine Partners LLC grew its holdings in TechnipFMC by 4.8% in the third quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company’s stock worth $294,000 after purchasing an additional 515 shares during the last quarter. Finally, Creative Planning boosted its position in shares of TechnipFMC by 3.2% in the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock worth $455,000 after purchasing an additional 546 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on FTI shares. Susquehanna upped their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th. Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Bank of America upped their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. BMO Capital Markets lifted their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. Finally, Barclays raised their target price on TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, TechnipFMC currently has an average rating of “Buy” and a consensus price target of $33.91.

TechnipFMC Stock Up 1.2 %

Shares of FTI opened at $31.37 on Friday. The company has a market capitalization of $13.35 billion, a price-to-earnings ratio of 20.64 and a beta of 1.51. TechnipFMC plc has a 52 week low of $18.33 and a 52 week high of $31.53. The stock’s 50-day moving average price is $27.61 and its 200-day moving average price is $26.63. 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 (NYSE:FTI) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.39 by $0.25. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. On average, sell-side analysts predict that TechnipFMC plc will post 1.58 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be given a $0.05 dividend. 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%.

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

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.