Mount Lucas Management LP Boosts Stock Holdings in TechnipFMC plc (NYSE:FTI)

Mount Lucas Management LP increased its position in shares of TechnipFMC plc (NYSE:FTI) by 2.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,612 shares of the oil and gas company’s stock after buying an additional 1,094 shares during the period. Mount Lucas Management LP’s holdings in TechnipFMC were worth $1,144,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in shares of 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 acquiring an additional 735 shares in the last quarter. GAMMA Investing LLC raised its holdings in TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 492 shares during the period. ORG Wealth Partners LLC purchased a new position in TechnipFMC during the third quarter worth approximately $30,000. ORG Partners LLC acquired a new stake in TechnipFMC in the second quarter valued at approximately $33,000. Finally, Crewe Advisors LLC purchased a new stake in shares of TechnipFMC in the second quarter valued at approximately $51,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FTI. Citigroup increased their target price on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday. TD Cowen boosted their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Susquehanna upped their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research report on Friday, October 25th. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Tuesday, October 29th. Finally, BMO Capital Markets increased their target price on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $33.60.

TechnipFMC Price Performance

FTI stock opened at $28.18 on Friday. TechnipFMC plc has a 1 year low of $18.33 and a 1 year high of $29.85. The firm has a market capitalization of $11.99 billion, a PE ratio of 18.54 and a beta of 1.51. 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 business has a 50 day simple moving average of $26.54 and a 200-day simple moving average of $26.36.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping 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 revenue for the quarter was up 14.2% on a year-over-year basis. During the same period last year, the company earned $0.21 EPS. Equities research analysts anticipate that TechnipFMC plc will post 1.55 earnings per share for the current fiscal year.

TechnipFMC announced that its board has approved a stock buyback plan on Wednesday, October 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.71%. TechnipFMC’s payout ratio is 13.16%.

About TechnipFMC

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.