Oliver Luxxe Assets LLC Sells 27,734 Shares of TechnipFMC plc (NYSE:FTI)

Oliver Luxxe Assets LLC decreased its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 14.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 166,964 shares of the oil and gas company's stock after selling 27,734 shares during the quarter. Oliver Luxxe Assets LLC's holdings in TechnipFMC were worth $4,832,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Insight Wealth Strategies LLC bought a new stake in TechnipFMC during the fourth quarter valued at approximately $4,088,000. GAMMA Investing LLC boosted its stake in shares of TechnipFMC by 22.3% during the 4th 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 last quarter. Franklin Resources Inc. increased its stake in shares of TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock worth $98,838,000 after purchasing an additional 679,748 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of TechnipFMC by 264.1% in the third quarter. Sanctuary Advisors LLC now owns 28,783 shares of the oil and gas company's stock worth $755,000 after acquiring an additional 20,877 shares during the period. Finally, Morse Asset Management Inc raised its stake in TechnipFMC by 1.9% during the 3rd quarter. Morse Asset Management Inc now owns 67,575 shares of the oil and gas company's stock valued at $1,772,000 after purchasing an additional 1,245 shares during the period. Institutional investors own 96.58% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on FTI. StockNews.com raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Friday, November 1st. Barclays lifted their price target on shares of TechnipFMC from $37.00 to $42.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Hsbc Global Res raised shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. Citigroup increased 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. Finally, Susquehanna increased their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the company a "positive" rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $35.92.

TechnipFMC Trading Up 1.0 %

Shares of FTI stock traded up $0.30 on Monday, reaching $31.65. 4,257,470 shares of the company's stock were exchanged, compared to its average volume of 4,017,657. The company's fifty day simple moving average is $29.31 and its 200 day simple moving average is $27.46. The stock has a market capitalization of $13.46 billion, a PE ratio of 20.82 and a beta of 1.54. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 52 week low of $18.33 and a 52 week high of $32.64.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.25. The company had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm's quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 EPS. As a group, analysts forecast that TechnipFMC plc will post 1.61 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 buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, November 19th. TechnipFMC's dividend payout ratio (DPR) is presently 13.16%.

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.