10,094 Shares in TechnipFMC plc (NYSE:FTI) Purchased by Assetmark Inc.

Assetmark Inc. acquired a new position in shares of TechnipFMC plc (NYSE:FTI) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,094 shares of the oil and gas company’s stock, valued at approximately $265,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Oak Thistle LLC raised its stake in TechnipFMC by 3.2% during the second quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company’s stock worth $358,000 after buying an additional 421 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in TechnipFMC by 5.1% in the 2nd quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company’s stock worth $246,000 after purchasing an additional 433 shares in the last quarter. GAMMA Investing LLC raised its stake 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 valued at $30,000 after purchasing an additional 492 shares in the last quarter. Ballentine Partners LLC raised its stake in shares of TechnipFMC by 4.8% during the third quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company’s stock worth $294,000 after acquiring an additional 515 shares in the last quarter. Finally, Creative Planning lifted its position in TechnipFMC by 3.2% in the second quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock valued at $455,000 after purchasing an additional 546 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FTI shares. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Susquehanna raised their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research note on Friday, October 25th. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Tuesday, October 29th. Citigroup lifted their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets lifted their target price on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $33.60.

TechnipFMC Trading Down 1.1 %

Shares of FTI opened at $28.18 on Friday. The stock has a 50-day moving average price of $26.54 and a 200 day moving average price of $26.36. 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 one year low of $18.33 and a one year high of $29.85. The company has a market capitalization of $11.99 billion, a P/E ratio of 18.54 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last released its 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 for the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 EPS. Sell-side analysts forecast that TechnipFMC plc will post 1.47 EPS for the current fiscal year.

TechnipFMC announced that its Board of Directors has initiated a stock buyback plan on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors 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 yield of 0.71%. TechnipFMC’s dividend payout ratio is presently 13.16%.

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.