Park Avenue Securities LLC Takes $519,000 Position in TechnipFMC plc (NYSE:FTI)

Park Avenue Securities LLC purchased a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,948 shares of the oil and gas company's stock, valued at approximately $519,000.

A number of other hedge funds also recently added to or reduced their stakes in FTI. Baker Tilly Wealth Management LLC boosted its holdings in shares of TechnipFMC by 4.1% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company's stock valued at $248,000 after acquiring an additional 338 shares during the last quarter. GAMMA Investing LLC boosted its holdings in TechnipFMC by 22.3% in the fourth quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company's stock worth $66,000 after purchasing an additional 414 shares during the last quarter. Ballentine Partners LLC grew its position in TechnipFMC by 4.8% in the 3rd quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company's stock worth $294,000 after purchasing an additional 515 shares during the period. Creative Planning raised its stake in TechnipFMC by 3.2% during the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company's stock valued at $455,000 after buying an additional 546 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of TechnipFMC by 2.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,963 shares of the oil and gas company's stock valued at $702,000 after buying an additional 616 shares during the period. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

Shares of NYSE:FTI traded down $0.33 during trading on Friday, hitting $31.40. 1,929,398 shares of the company's stock were exchanged, compared to its average volume of 3,563,480. The business's 50-day simple moving average is $30.71 and its 200 day simple moving average is $28.10. The company has a market cap of $13.36 billion, a price-to-earnings ratio of 20.66 and a beta of 1.54. TechnipFMC plc has a 52-week low of $18.53 and a 52-week high of $33.45. 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 (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the firm posted $0.21 EPS. The company's revenue was up 14.2% on a year-over-year basis. As a group, equities analysts predict that TechnipFMC plc will post 1.62 EPS for the current year.

TechnipFMC declared that its board has authorized a stock repurchase 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 buy up to 9.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have weighed in on FTI. Hsbc Global Res raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a report on Friday, December 13th. They issued a "buy" rating and a $38.00 price objective on the stock. Bank of America upped their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the company a "buy" rating in a report on Monday, October 14th. HSBC upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price target on the stock in a research note on Tuesday, October 29th. Finally, StockNews.com upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. One 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target 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.