TechnipFMC plc (NYSE:FTI) Shares Bought by Toth Financial Advisory Corp

Toth Financial Advisory Corp grew its position in TechnipFMC plc (NYSE:FTI) by 1,225.0% during the 4th quarter, Holdings Channel reports. The fund owned 26,500 shares of the oil and gas company’s stock after buying an additional 24,500 shares during the quarter. Toth Financial Advisory Corp’s holdings in TechnipFMC were worth $767,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FTI. Pacer Advisors Inc. purchased a new stake in shares of TechnipFMC in the third quarter valued at approximately $185,643,000. Westfield Capital Management Co. LP purchased a new stake in shares of TechnipFMC during the 3rd quarter worth $49,273,000. Jennison Associates LLC grew its stake in shares of TechnipFMC by 95.0% during the 3rd quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock worth $61,918,000 after purchasing an additional 1,150,049 shares during the period. Hardman Johnston Global Advisors LLC increased its holdings in shares of TechnipFMC by 13.5% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after purchasing an additional 1,071,103 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of TechnipFMC by 391.5% in the second quarter. AQR Capital Management LLC now owns 1,036,797 shares of the oil and gas company’s stock valued at $27,112,000 after purchasing an additional 825,842 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

Shares of FTI opened at $31.40 on Friday. The company has a market capitalization of $13.36 billion, a price-to-earnings ratio of 20.66 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 1 year low of $18.53 and a 1 year high of $33.45. The company’s 50 day simple moving average is $30.71 and its 200 day simple moving average is $28.11.

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 business 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 was up 14.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 earnings per share. On average, sell-side analysts predict that TechnipFMC plc will post 1.62 EPS for the current year.

TechnipFMC announced that its board has approved a stock repurchase 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 a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

FTI has been the topic of several recent analyst reports. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a “buy” rating and a $38.00 target price on the stock. TD Cowen reaffirmed a “buy” rating and issued a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday, November 27th. Royal Bank of Canada initiated coverage on TechnipFMC in a research report on Monday, November 18th. They set an “outperform” rating and a $37.00 target price on the stock. Barclays raised their price target on TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Piper Sandler assumed coverage on shares of TechnipFMC in a research report on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, TechnipFMC currently has a consensus rating of “Buy” and an average target price of $36.15.

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.