156,703 Shares in TechnipFMC plc $FTI Bought by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC bought a new stake in TechnipFMC plc (NYSE:FTI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 156,703 shares of the oil and gas company’s stock, valued at approximately $6,182,000.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of TechnipFMC by 5,475.0% in the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after buying an additional 657 shares in the last quarter. Geneos Wealth Management Inc. raised its position in TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 340 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of TechnipFMC in the second quarter valued at about $44,000. Ossiam lifted its holdings in shares of TechnipFMC by 52.0% in the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 546 shares in the last quarter. Finally, New York State Teachers Retirement System grew its position in shares of TechnipFMC by 82.5% in the second quarter. New York State Teachers Retirement System now owns 1,927 shares of the oil and gas company’s stock valued at $66,000 after purchasing an additional 871 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

FTI has been the topic of a number of recent research reports. BNP Paribas Exane raised TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 target price on the stock in a research note on Friday, October 10th. Citigroup raised their price target on TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. BNP Paribas set a $47.00 price objective on TechnipFMC and gave the company an “outperform” rating in a research note on Friday, October 10th. Finally, Jefferies Financial Group lifted their price objective on TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.92.

TechnipFMC Price Performance

FTI opened at $44.64 on Tuesday. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $47.33. The company’s 50 day simple moving average is $43.67 and its 200 day simple moving average is $38.96. The stock has a market capitalization of $18.06 billion, a PE ratio of 19.93, a P/E/G ratio of 1.06 and a beta of 0.68. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.10. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS. As a group, sell-side analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

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

TechnipFMC declared that its board has authorized a share repurchase plan on Wednesday, October 22nd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the oil and gas company to purchase up to 13.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

About TechnipFMC

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.