Inspire Investing LLC Makes New $943,000 Investment in TechnipFMC plc (NYSE:FTI)

Inspire Investing LLC purchased a new stake in TechnipFMC plc (NYSE:FTI) during the fourth quarter, Holdings Channel reports. The firm purchased 32,600 shares of the oil and gas company’s stock, valued at approximately $943,000.

A number of other institutional investors have also modified their holdings of FTI. Hardman Johnston Global Advisors LLC lifted its position in TechnipFMC by 13.5% during the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after acquiring an additional 1,071,103 shares during the last quarter. State Street Corp increased its position in shares of TechnipFMC by 1.7% during the third quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock worth $215,100,000 after purchasing an additional 133,775 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of TechnipFMC during the 3rd quarter valued at $185,643,000. Franklin Resources Inc. boosted its position in shares of TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after purchasing an additional 679,748 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in TechnipFMC by 6.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,399,822 shares of the oil and gas company’s stock worth $89,177,000 after buying an additional 219,081 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Trading Down 0.6 %

NYSE FTI opened at $31.69 on Friday. TechnipFMC plc has a 1 year low of $18.53 and a 1 year high of $33.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The company has a market capitalization of $13.48 billion, a PE ratio of 20.85 and a beta of 1.54. The company has a fifty day moving average of $30.64 and a 200 day moving average of $28.06.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the firm posted $0.21 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. Research analysts forecast that TechnipFMC plc will post 1.62 earnings per share for the current year.

TechnipFMC declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FTI shares. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. BMO Capital Markets upped their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. Piper Sandler initiated coverage on shares of TechnipFMC in a research note on Thursday, December 19th. They issued an “overweight” rating and a $39.00 target price for the company. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group began coverage on shares of TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 price target for the company. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, TechnipFMC presently has an average rating of “Buy” and a consensus price target of $36.15.

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.