TechnipFMC plc (NYSE:FTI) Position Boosted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 152.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,440 shares of the oil and gas company's stock after purchasing an additional 22,624 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in TechnipFMC were worth $982,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Shayne & Jacobs LLC grew its holdings in shares of TechnipFMC by 0.5% in the 3rd quarter. Shayne & Jacobs LLC now owns 181,520 shares of the oil and gas company's stock worth $4,761,000 after acquiring an additional 920 shares during the period. Ballentine Partners LLC grew its holdings in shares of 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 acquiring an additional 515 shares during the period. Mount Yale Investment Advisors LLC acquired a new stake in shares of TechnipFMC in the 3rd quarter worth approximately $205,000. Impact Partnership Wealth LLC acquired a new stake in shares of TechnipFMC in the 3rd quarter worth approximately $216,000. Finally, International Assets Investment Management LLC purchased a new stake in TechnipFMC in the 3rd quarter valued at approximately $363,000. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Stock Up 6.0 %

NYSE FTI traded up $1.61 during trading hours on Wednesday, hitting $28.26. The company had a trading volume of 3,326,172 shares, compared to its average volume of 4,047,373. The firm's 50 day moving average is $26.11 and its 200 day moving average is $26.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The company has a market capitalization of $12.02 billion, a price-to-earnings ratio of 18.65 and a beta of 1.51. TechnipFMC plc has a fifty-two week low of $18.33 and a fifty-two week high of $29.85.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share 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 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 firm earned $0.21 earnings per share. Sell-side analysts anticipate that TechnipFMC plc will post 1.42 earnings per share for the current fiscal year.

TechnipFMC declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.71%. TechnipFMC's payout ratio is 13.16%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FTI. Citigroup upped their target price on TechnipFMC from $31.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, July 10th. TD Cowen upped their target price on TechnipFMC from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Friday, October 25th. StockNews.com raised TechnipFMC from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Barclays increased their price target on TechnipFMC from $34.00 to $37.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Finally, BMO Capital Markets increased their target price on TechnipFMC from $32.00 to $33.00 and gave the stock a "market perform" rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.41.

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.