20,224 Shares in TechnipFMC plc (NYSE:FTI) Acquired by Sheets Smith Wealth Management

Sheets Smith Wealth Management bought a new position in TechnipFMC plc (NYSE:FTI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 20,224 shares of the oil and gas company's stock, valued at approximately $585,000.

A number of other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in shares of TechnipFMC by 23.0% during the third 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in TechnipFMC by 971.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company's stock valued at $10,692,000 after purchasing an additional 369,594 shares during the period. ING Groep NV increased its holdings in TechnipFMC by 15.3% during the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company's stock valued at $22,697,000 after buying an additional 114,600 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of TechnipFMC in the 3rd quarter worth $49,273,000. Finally, Entropy Technologies LP purchased a new stake in shares of TechnipFMC during the third quarter valued at about $575,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Trading Down 0.6 %

Shares of NYSE FTI traded down $0.19 during trading on Thursday, hitting $31.69. 3,286,298 shares of the company traded hands, compared to its average volume of 3,680,032. TechnipFMC plc has a 1 year low of $18.53 and a 1 year high of $33.45. The firm has a market capitalization of $13.48 billion, a P/E ratio of 20.85 and a beta of 1.54. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $30.58 and a 200-day moving average price of $28.04.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.39 by $0.25. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company's revenue was up 14.2% on a year-over-year basis. During the same period last year, the business posted $0.21 EPS. On average, equities analysts predict that TechnipFMC plc will post 1.62 EPS for the current year.

TechnipFMC announced that its Board of Directors has authorized 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 purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently commented on FTI shares. Barclays raised their price objective on TechnipFMC from $37.00 to $42.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Bank of America upped their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Monday, October 14th. HSBC raised shares of TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price objective on the stock in a report on Tuesday, October 29th. Jefferies Financial Group raised shares of TechnipFMC from a "hold" rating to a "buy" rating and upped their price objective for the company from $29.00 to $40.00 in a report on Friday, December 6th. Finally, Susquehanna lifted their target price 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 research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $36.15.

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.