Independent Advisor Alliance Sells 628 Shares of TechnipFMC plc (NYSE:FTI)

Independent Advisor Alliance trimmed its position in shares of TechnipFMC plc (NYSE:FTI) by 1.0% during the third quarter, HoldingsChannel.com reports. The firm owned 63,369 shares of the oil and gas company’s stock after selling 628 shares during the period. Independent Advisor Alliance’s holdings in TechnipFMC were worth $1,662,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FTI. Blue Trust Inc. boosted its position in TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after buying an additional 735 shares during the period. GAMMA Investing LLC raised its stake in shares of TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 492 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of TechnipFMC during the third quarter valued at $30,000. ORG Partners LLC acquired a new position in shares of TechnipFMC during the second quarter worth $33,000. Finally, Crewe Advisors LLC bought a new stake in shares of TechnipFMC in the second quarter worth $51,000. 96.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on FTI. Susquehanna lifted their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, October 29th. BMO Capital Markets increased their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. Royal Bank of Canada started coverage on shares of TechnipFMC in a research report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price target on the stock. Finally, Citigroup lifted their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, TechnipFMC currently has an average rating of “Buy” and a consensus target price of $33.91.

TechnipFMC Stock Performance

Shares of FTI stock opened at $31.04 on Wednesday. TechnipFMC plc has a 12 month low of $18.33 and a 12 month high of $31.06. The firm has a market capitalization of $13.21 billion, a PE ratio of 20.42 and a beta of 1.51. The firm has a fifty day simple moving average of $27.21 and a two-hundred day simple moving average of $26.50. 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 released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 EPS. Analysts forecast that TechnipFMC plc will post 1.56 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. 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 allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally 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.