Cerity Partners LLC Acquires 498,137 Shares of TechnipFMC plc (NYSE:FTI)

Cerity Partners LLC grew its holdings in TechnipFMC plc (NYSE:FTI) by 121.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 908,936 shares of the oil and gas company’s stock after acquiring an additional 498,137 shares during the quarter. Cerity Partners LLC owned 0.21% of TechnipFMC worth $23,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. grew its position in TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 735 shares during the last quarter. ORG Wealth Partners LLC bought a new position in TechnipFMC during the third quarter valued at about $30,000. GAMMA Investing LLC raised its holdings in TechnipFMC by 73.1% in the 2nd 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 in the last quarter. ORG Partners LLC bought a new stake in shares of TechnipFMC in the 2nd quarter worth approximately $33,000. Finally, Crewe Advisors LLC bought a new stake in shares of TechnipFMC during the second quarter valued at approximately $51,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Up 2.7 %

Shares of NYSE FTI opened at $30.83 on Monday. TechnipFMC plc has a 1-year low of $18.33 and a 1-year high of $30.91. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average of $27.10 and a two-hundred day moving average of $26.47. The company has a market cap of $13.12 billion, a PE ratio of 20.28 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data 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. The firm had revenue of $2.35 billion for 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%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. As a group, equities analysts expect that TechnipFMC plc will post 1.56 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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 issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.65%. TechnipFMC’s dividend payout ratio is currently 13.16%.

TechnipFMC announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

FTI has been the topic of a number of recent research reports. Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Barclays upped their target price on shares of TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Susquehanna raised their price target 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. Bank of America upped their price objective on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Tuesday, October 29th. One research 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. Based on data from MarketBeat.com, TechnipFMC presently has a consensus 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.