AE Wealth Management LLC Raises Holdings in TechnipFMC plc $FTI

AE Wealth Management LLC increased its holdings in TechnipFMC plc (NYSE:FTI) by 38.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 183,603 shares of the oil and gas company’s stock after buying an additional 50,593 shares during the period. AE Wealth Management LLC’s holdings in TechnipFMC were worth $7,243,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Blue Trust Inc. boosted its position in TechnipFMC by 5,475.0% during the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 657 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of 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 buying an additional 340 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of TechnipFMC in the 2nd quarter valued at about $44,000. McIlrath & Eck LLC grew its position in shares of TechnipFMC by 476.3% in the 3rd quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock worth $49,000 after buying an additional 1,024 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in shares of TechnipFMC during the 3rd quarter worth approximately $51,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $55.70 on Friday. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $56.93. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The company has a market cap of $22.53 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 1.09 and a beta of 0.66. The company’s 50 day moving average is $48.09 and its 200 day moving average is $41.63.

TechnipFMC declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 22nd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 13.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FTI. Susquehanna raised their target price on shares of TechnipFMC from $48.00 to $56.00 and gave the company a “positive” rating in a research note on Wednesday, January 7th. Barclays raised their price objective on TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Royal Bank Of Canada upped their target price on TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Citigroup raised their price target on TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, BNP Paribas Exane set a $47.00 price objective on shares of TechnipFMC and gave the company an “outperform” rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

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.