Cerity Partners LLC Has $23.84 Million Position in TechnipFMC plc (NYSE:FTI)

Cerity Partners LLC lifted its stake in TechnipFMC plc (NYSE:FTI) by 121.3% during the third quarter, Holdings Channel.com reports. The fund owned 908,936 shares of the oil and gas company’s stock after buying an additional 498,137 shares during the period. Cerity Partners LLC’s holdings in TechnipFMC were worth $23,841,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quadrature Capital Ltd acquired a new position in shares of TechnipFMC during the 1st quarter worth approximately $719,000. 1832 Asset Management L.P. boosted its position in shares of TechnipFMC by 70.6% during the 1st quarter. 1832 Asset Management L.P. now owns 54,735 shares of the oil and gas company’s stock worth $1,374,000 after acquiring an additional 22,645 shares in the last quarter. Bayesian Capital Management LP bought a new position in TechnipFMC in the first quarter valued at approximately $1,421,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of TechnipFMC by 11.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 913,925 shares of the oil and gas company’s stock valued at $22,949,000 after purchasing an additional 90,971 shares in the last quarter. Finally, First Western Trust Bank acquired a new position in shares of TechnipFMC during the 1st quarter worth $207,000. Institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on FTI shares. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Citigroup raised their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets boosted their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. Finally, Susquehanna increased their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $33.91.

TechnipFMC Stock Up 2.7 %

Shares of FTI opened at $30.83 on Monday. The stock’s 50-day moving average price is $27.10 and its two-hundred day moving average price is $26.47. TechnipFMC plc has a 12 month low of $18.33 and a 12 month high of $30.91. The company has a market capitalization of $13.12 billion, a PE ratio of 20.28 and a beta of 1.51. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the firm earned $0.21 earnings per share. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. On average, analysts anticipate that TechnipFMC plc will post 1.56 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Tuesday, November 19th. TechnipFMC’s dividend payout ratio is currently 13.16%.

TechnipFMC declared that its Board of Directors has authorized a share repurchase program on Wednesday, October 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

TechnipFMC Profile

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.