Foundry Partners LLC Takes $342,000 Position in TechnipFMC plc (NYSE:FTI)

Foundry Partners LLC acquired a new position in shares of TechnipFMC plc (NYSE:FTI) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 13,024 shares of the oil and gas company’s stock, valued at approximately $342,000.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FTI shares. TD Cowen upped their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Barclays boosted their price target on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Citigroup lifted their price target on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada started coverage on TechnipFMC in a research report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price objective for the company. Finally, BMO Capital Markets upped their price target 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. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $33.91.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $30.83 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The business’s fifty day moving average price is $27.10 and its two-hundred day moving average price is $26.48. The stock has a market cap of $13.12 billion, a PE ratio of 20.28 and a beta of 1.51. TechnipFMC plc has a one year low of $18.33 and a one year high of $30.91.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. The firm had revenue of $2.35 billion during 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 firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. On average, analysts forecast that TechnipFMC plc will post 1.55 EPS for the current fiscal year.

TechnipFMC declared that its Board of Directors has authorized a share repurchase program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Tuesday, November 19th. TechnipFMC’s payout ratio is 13.16%.

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.