Sheets Smith Wealth Management Acquires New Stake in TechnipFMC plc (NYSE:FTI)

Sheets Smith Wealth Management bought a new position in shares of TechnipFMC plc (NYSE:FTI) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 20,224 shares of the oil and gas company’s stock, valued at approximately $585,000.

Other large investors have also modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of TechnipFMC by 203.6% in the third 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 in the last quarter. ORG Wealth Partners LLC purchased a new position in TechnipFMC in the 3rd quarter worth approximately $30,000. GAMMA Investing LLC boosted its holdings in shares of TechnipFMC by 59.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 693 shares during the last quarter. Toth Financial Advisory Corp increased its holdings in shares of TechnipFMC by 1,900.0% in the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock valued at $52,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in TechnipFMC during the third quarter worth approximately $56,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Down 1.9 %

NYSE FTI opened at $31.92 on Thursday. TechnipFMC plc has a one year low of $18.53 and a one year high of $33.45. The firm has a 50 day simple moving average of $30.58 and a 200-day simple moving average of $28.04. The firm has a market cap of $13.58 billion, a price-to-earnings ratio of 21.00 and a beta of 1.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate 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 net margin of 7.63% and a return on equity of 20.11%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Equities research analysts anticipate that TechnipFMC plc will post 1.61 EPS for the current fiscal year.

TechnipFMC announced that its board has initiated a share repurchase plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FTI. Susquehanna upped their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. Royal Bank of Canada started coverage on shares of TechnipFMC in a research note on Monday, November 18th. They set an “outperform” rating and a $37.00 target price on the stock. Bank of America increased their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Tuesday, October 29th. Finally, Evercore ISI increased their price objective on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price 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.