Baker Tilly Wealth Management LLC Acquires 338 Shares of TechnipFMC plc (NYSE:FTI)

Baker Tilly Wealth Management LLC raised its holdings in TechnipFMC plc (NYSE:FTI) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,581 shares of the oil and gas company’s stock after acquiring an additional 338 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in TechnipFMC were worth $248,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FTI. Pacer Advisors Inc. acquired a new stake in shares of TechnipFMC during the third quarter worth $185,643,000. Westfield Capital Management Co. LP acquired a new position in shares of TechnipFMC during the 3rd quarter worth about $49,273,000. Jennison Associates LLC increased its stake in shares of TechnipFMC by 95.0% in the 3rd quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock valued at $61,918,000 after acquiring an additional 1,150,049 shares during the last quarter. Anomaly Capital Management LP raised its position in shares of TechnipFMC by 50.3% in the 2nd quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock valued at $89,429,000 after acquiring an additional 1,144,087 shares during the period. Finally, Hardman Johnston Global Advisors LLC boosted its stake in TechnipFMC by 13.5% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after acquiring an additional 1,071,103 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Down 2.6 %

Shares of FTI stock opened at $31.70 on Friday. The firm’s 50-day moving average is $29.78 and its 200-day moving average is $27.63. The stock has a market cap of $13.49 billion, a price-to-earnings ratio of 20.86 and a beta of 1.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC plc has a 52-week low of $18.37 and a 52-week high of $33.45.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the firm earned $0.21 EPS. The firm’s revenue was up 14.2% compared to the same quarter last year. Sell-side analysts predict that TechnipFMC plc will post 1.61 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Tuesday, November 19th. TechnipFMC’s dividend payout ratio is presently 13.16%.

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

Analysts Set New Price Targets

Several research firms have weighed in on FTI. Piper Sandler began coverage on shares of TechnipFMC in a report on Thursday, December 19th. They issued an “overweight” rating and a $39.00 target price on the stock. BMO Capital Markets raised their price objective on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. Royal Bank of Canada assumed coverage on TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price target for the company. Susquehanna lifted their price objective on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. Finally, The Goldman Sachs Group began coverage on shares of TechnipFMC in a report on Friday, December 13th. They set a “buy” rating and a $38.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, TechnipFMC has a consensus rating of “Buy” and an average price target of $35.92.

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.