TechnipFMC plc (NYSE:FTI) Shares Bought by Cerity Partners LLC

Cerity Partners LLC raised its position in TechnipFMC plc (NYSE:FTI - Free Report) by 121.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 908,936 shares of the oil and gas company's stock after purchasing an additional 498,137 shares during the period. Cerity Partners LLC owned 0.21% of TechnipFMC worth $23,841,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its position in TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company's stock worth $29,000 after acquiring an additional 735 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 492 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of TechnipFMC in the third quarter valued at approximately $30,000. ORG Partners LLC purchased a new position in TechnipFMC during the second quarter worth approximately $33,000. Finally, Crewe Advisors LLC acquired a new position in TechnipFMC during the second quarter worth $51,000. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Stock Down 0.6 %

Shares of NYSE:FTI traded down $0.18 on Monday, hitting $30.65. 4,603,288 shares of the company's stock were exchanged, compared to its average volume of 4,002,705. TechnipFMC plc has a 1-year low of $18.33 and a 1-year high of $30.91. The company has a market capitalization of $13.04 billion, a PE ratio of 20.28 and a beta of 1.51. 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 firm's 50-day moving average is $27.10 and its 200 day moving average is $26.47.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the firm posted $0.21 earnings per share. The company's revenue for the quarter was up 14.2% compared to the same quarter last year. Sell-side analysts predict that TechnipFMC plc will post 1.56 EPS for the current year.

TechnipFMC announced that its Board of Directors has approved a share 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 reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.65%. TechnipFMC's dividend payout ratio (DPR) is currently 13.16%.

Analysts Set New Price Targets

Several research analysts have recently commented on FTI shares. Citigroup lifted their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. BMO Capital Markets increased their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the company a "market perform" rating in a research note on Thursday, October 10th. Hsbc Global Res raised shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. StockNews.com upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. Finally, HSBC upgraded TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 target price on the stock in a research report on Tuesday, October 29th. One equities 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 stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $33.91.

About TechnipFMC

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.