Brighton Jones LLC Has $2.30 Million Stake in TechnipFMC plc $FTI

Brighton Jones LLC increased its stake in shares of TechnipFMC plc (NYSE:FTI) by 62.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,171 shares of the oil and gas company’s stock after purchasing an additional 22,379 shares during the quarter. Brighton Jones LLC’s holdings in TechnipFMC were worth $2,295,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. OMNI 360 Wealth Inc. acquired a new stake in shares of TechnipFMC during the second quarter worth $226,000. AQR Capital Management LLC boosted its holdings in TechnipFMC by 13.8% during the second quarter. AQR Capital Management LLC now owns 9,938,410 shares of the oil and gas company’s stock worth $342,279,000 after buying an additional 1,202,713 shares during the last quarter. Raymond James Financial Inc. grew its position in shares of TechnipFMC by 26.2% during the 1st quarter. Raymond James Financial Inc. now owns 399,126 shares of the oil and gas company’s stock worth $12,648,000 after buying an additional 82,902 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of TechnipFMC in the 1st quarter valued at about $230,000. Finally, Focus Partners Advisor Solutions LLC increased its stake in shares of TechnipFMC by 285.7% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 29,517 shares of the oil and gas company’s stock valued at $935,000 after acquiring an additional 21,865 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $44.98 on Tuesday. The company has a fifty day moving average price of $42.79 and a 200 day moving average price of $38.56. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $47.33. The firm has a market cap of $18.19 billion, a PE ratio of 20.08, a PEG ratio of 1.06 and a beta of 0.68. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 earnings per share. Research analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 22nd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 13.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Tuesday, November 18th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, November 18th. TechnipFMC’s dividend payout ratio (DPR) is currently 8.93%.

Analyst Ratings Changes

Several research analysts recently weighed in on FTI shares. JPMorgan Chase & Co. lifted their price objective on shares of TechnipFMC from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a research report on Wednesday, October 8th. BNP Paribas set a $47.00 price target on shares of TechnipFMC and gave the company an “outperform” rating in a report on Friday, October 10th. Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Barclays lifted their target price on TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.92.

TechnipFMC Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.