TechnipFMC plc (NYSE:FTI) Shares Bought by Hennessy Advisors Inc.

Hennessy Advisors Inc. increased its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 404,740 shares of the oil and gas company's stock after acquiring an additional 25,300 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.10% of TechnipFMC worth $11,713,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Baker Tilly Wealth Management LLC increased its stake in TechnipFMC by 4.1% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company's stock valued at $248,000 after purchasing an additional 338 shares during the period. GAMMA Investing LLC grew its holdings in TechnipFMC by 22.3% during the fourth quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company's stock worth $66,000 after acquiring an additional 414 shares during the period. Ballentine Partners LLC raised its position in TechnipFMC by 4.8% in 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. Creative Planning increased its holdings in shares of TechnipFMC by 3.2% in the 2nd 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 in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of TechnipFMC by 2.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,963 shares of the oil and gas company's stock valued at $702,000 after purchasing an additional 616 shares during the period. Hedge funds and other institutional investors own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FTI. Piper Sandler began coverage on shares of TechnipFMC in a report on Thursday, December 19th. They issued an "overweight" rating and a $39.00 target price for the company. Hsbc Global Res raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 29th. The Goldman Sachs Group initiated coverage on TechnipFMC in a research report on Friday, December 13th. They set a "buy" rating and a $38.00 target price on the stock. Citigroup increased their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Finally, Susquehanna upped their target price on TechnipFMC from $35.00 to $37.00 and gave the company a "positive" rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, TechnipFMC presently has a consensus rating of "Buy" and a consensus target price of $36.15.

TechnipFMC Stock Up 0.2 %

Shares of NYSE:FTI traded up $0.08 during midday trading on Friday, hitting $32.64. 2,897,447 shares of the company's stock traded hands, compared to its average volume of 2,911,429. TechnipFMC plc has a twelve month low of $18.53 and a twelve month high of $33.45. The company has a market cap of $13.89 billion, a PE ratio of 21.47 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. The firm's fifty day moving average price is $30.36 and its two-hundred day moving average price is $27.91.

TechnipFMC (NYSE:FTI - Get Free Report) last issued 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. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The firm's quarterly revenue was up 14.2% on a year-over-year basis. On average, equities research analysts anticipate that TechnipFMC plc will post 1.61 EPS for the current fiscal year.

TechnipFMC announced that its board has authorized a share buyback plan on Wednesday, October 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Tuesday, November 19th. TechnipFMC's dividend payout ratio (DPR) is 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.