Cannon Global Investment Management LLC Buys 30,000 Shares of TechnipFMC plc (NYSE:FTI)

Cannon Global Investment Management LLC increased its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 96.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,000 shares of the oil and gas company's stock after purchasing an additional 30,000 shares during the period. TechnipFMC accounts for about 2.6% of Cannon Global Investment Management LLC's holdings, making the stock its 5th biggest holding. Cannon Global Investment Management LLC's holdings in TechnipFMC were worth $1,600,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in TechnipFMC by 414.8% in the third quarter. Farther Finance Advisors LLC now owns 3,089 shares of the oil and gas company's stock valued at $81,000 after purchasing an additional 2,489 shares during the period. US Bancorp DE raised its holdings in TechnipFMC by 54.1% in the 3rd quarter. US Bancorp DE now owns 81,585 shares of the oil and gas company's stock valued at $2,140,000 after buying an additional 28,649 shares during the period. Oak Harvest Investment Services lifted its position in TechnipFMC by 12.8% in the third quarter. Oak Harvest Investment Services now owns 103,662 shares of the oil and gas company's stock valued at $2,719,000 after buying an additional 11,758 shares during the last quarter. Pallas Capital Advisors LLC boosted its stake in TechnipFMC by 159.0% during the third quarter. Pallas Capital Advisors LLC now owns 23,051 shares of the oil and gas company's stock worth $596,000 after buying an additional 14,150 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of TechnipFMC by 152.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 37,440 shares of the oil and gas company's stock valued at $982,000 after acquiring an additional 22,624 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Down 1.5 %

Shares of TechnipFMC stock traded down $0.41 on Friday, reaching $26.28. 2,408,888 shares of the company were exchanged, compared to its average volume of 3,320,245. The stock's 50 day moving average price is $26.12 and its 200-day moving average price is $26.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. TechnipFMC plc has a 1-year low of $18.33 and a 1-year high of $29.85. The company has a market cap of $11.18 billion, a P/E ratio of 17.29 and a beta of 1.51.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter in the previous year, the business posted $0.21 EPS. The firm's revenue was up 14.2% on a year-over-year basis. As a group, equities analysts forecast that TechnipFMC plc will post 1.42 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared 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. This represents a $0.20 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Tuesday, November 19th. TechnipFMC's dividend payout ratio is presently 13.16%.

TechnipFMC announced that its board has authorized 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 reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

FTI has been the topic of several recent analyst reports. Hsbc Global Res upgraded shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. Susquehanna upped their price target on TechnipFMC from $35.00 to $37.00 and gave the stock a "positive" rating in a research note on Friday, October 25th. HSBC raised TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price objective for the company in a research note on Tuesday, October 29th. Bank of America increased their target price on TechnipFMC from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Finally, Barclays lifted their target price on TechnipFMC from $34.00 to $37.00 and gave the company an "overweight" rating in a research report on Monday, October 28th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, TechnipFMC has a consensus rating of "Moderate Buy" and an average price target of $32.41.

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.