Yousif Capital Management LLC Purchases 124,872 Shares of TechnipFMC plc $FTI

Yousif Capital Management LLC increased its position in TechnipFMC plc (NYSE:FTI) by 1,563.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 132,861 shares of the oil and gas company’s stock after buying an additional 124,872 shares during the quarter. Yousif Capital Management LLC’s holdings in TechnipFMC were worth $5,241,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Boston Partners lifted its position in shares of TechnipFMC by 267.5% in the second quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock valued at $333,041,000 after acquiring an additional 7,038,640 shares in the last quarter. AQR Capital Management LLC raised its stake in TechnipFMC by 111.4% during the 1st quarter. AQR Capital Management LLC now owns 8,735,697 shares of the oil and gas company’s stock valued at $273,078,000 after purchasing an additional 4,602,939 shares during the period. Norges Bank purchased a new position in TechnipFMC in the 2nd quarter worth approximately $151,413,000. Encompass Capital Advisors LLC bought a new position in TechnipFMC in the 1st quarter worth approximately $47,535,000. Finally, Qube Research & Technologies Ltd grew its holdings in TechnipFMC by 61.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 3,399,955 shares of the oil and gas company’s stock valued at $117,094,000 after buying an additional 1,296,358 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

Shares of NYSE:FTI opened at $44.68 on Thursday. The firm has a fifty day simple moving average of $43.15 and a two-hundred day simple moving average of $38.69. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $47.33. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $18.07 billion, a P/E ratio of 19.95, a PEG ratio of 1.07 and a beta of 0.68.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter last year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC declared that its board has authorized a share buyback plan on Wednesday, October 22nd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 13.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Tuesday, November 18th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.4%. TechnipFMC’s payout ratio is currently 8.93%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of TechnipFMC from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. BNP Paribas Exane upgraded shares of TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 price target on the stock in a research note on Friday, October 10th. Citigroup raised their price objective on TechnipFMC from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Piper Sandler lifted their target price on TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, TechnipFMC presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.92.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.