Calamos Wealth Management LLC Grows Stake in TechnipFMC plc $FTI

Calamos Wealth Management LLC raised its stake in shares of TechnipFMC plc (NYSE:FTI) by 46.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,022 shares of the oil and gas company’s stock after purchasing an additional 24,190 shares during the period. Calamos Wealth Management LLC’s holdings in TechnipFMC were worth $2,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Diversified Trust Co increased its position in shares of TechnipFMC by 0.8% during the 2nd quarter. Diversified Trust Co now owns 40,830 shares of the oil and gas company’s stock valued at $1,406,000 after purchasing an additional 306 shares during the last quarter. Geneos Wealth Management Inc. increased 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 valued at $35,000 after acquiring an additional 340 shares during the last quarter. Quadcap Wealth Management LLC raised its stake in shares of TechnipFMC by 3.3% in the second quarter. Quadcap Wealth Management LLC now owns 16,256 shares of the oil and gas company’s stock valued at $560,000 after acquiring an additional 521 shares during the period. Ossiam raised its stake 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 acquiring an additional 546 shares during the period. Finally, Sigma Planning Corp lifted its holdings in shares of TechnipFMC by 4.9% in the 2nd quarter. Sigma Planning Corp now owns 11,917 shares of the oil and gas company’s stock worth $410,000 after acquiring an additional 558 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

TechnipFMC Trading Up 1.2%

Shares of NYSE FTI opened at $45.22 on Wednesday. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $47.33. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $43.85 and a two-hundred day simple moving average of $39.04. The firm has a market cap of $18.29 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 1.06 and a beta of 0.68.

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

TechnipFMC Announces Dividend

The firm also recently disclosed 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. The ex-dividend date was Tuesday, November 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.4%. TechnipFMC’s dividend payout ratio (DPR) is currently 8.93%.

TechnipFMC announced that its board has authorized a share repurchase program on Wednesday, October 22nd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 13.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

FTI has been the topic of a number of recent analyst reports. Citigroup increased their price objective on shares of TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Piper Sandler raised their price target on TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a research report on Wednesday, October 8th. UBS Group reiterated an “outperform” rating on shares of TechnipFMC in a research report on Tuesday, October 28th. Finally, Barclays upped their price target on shares of TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and an average target price of $46.92.

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.