13,484 Shares in TechnipFMC plc $FTI Purchased by Jackson Thornton Wealth Management LLC

Jackson Thornton Wealth Management LLC acquired a new stake in TechnipFMC plc (NYSE:FTI) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 13,484 shares of the oil and gas company’s stock, valued at approximately $511,000.

A number of other large investors also recently modified their holdings of FTI. Massachusetts Financial Services Co. MA increased its holdings in shares of TechnipFMC by 2.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,374,192 shares of the oil and gas company’s stock valued at $409,262,000 after purchasing an additional 232,491 shares in the last quarter. AQR Capital Management LLC raised its position in shares of TechnipFMC by 13.8% during the second quarter. AQR Capital Management LLC now owns 9,938,410 shares of the oil and gas company’s stock worth $342,279,000 after acquiring an additional 1,202,713 shares during the last quarter. Boston Partners lifted its stake in shares of TechnipFMC by 267.5% during 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 during the period. Norges Bank bought a new position in TechnipFMC in the second quarter valued at about $151,413,000. Finally, Pacer Advisors Inc. increased its position in TechnipFMC by 91.5% in the third quarter. Pacer Advisors Inc. now owns 3,837,314 shares of the oil and gas company’s stock worth $151,382,000 after purchasing an additional 1,833,601 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Cowen restated a “buy” rating on shares of TechnipFMC in a research report on Wednesday, January 7th. Weiss Ratings restated a “buy (b)” rating on shares of TechnipFMC in a research report on Wednesday, October 8th. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. JPMorgan Chase & Co. raised 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. Finally, BNP Paribas set a $47.00 price target on shares of TechnipFMC and gave the company an “outperform” rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.46.

TechnipFMC Stock Performance

Shares of FTI stock opened at $52.06 on Tuesday. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $52.76. The company’s fifty day simple moving average is $46.09 and its 200-day simple moving average is $40.48. The firm has a market cap of $21.06 billion, a PE ratio of 23.24, a P/E/G ratio of 1.01 and a beta of 0.66. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.60 billion. During the same period in the previous year, the business earned $0.64 EPS. The company’s revenue was up 12.7% compared to the same quarter last year. Equities research analysts expect that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC declared that its board has authorized a stock buyback program on Wednesday, October 22nd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 13.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

TechnipFMC Announces Dividend

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

TechnipFMC Company Profile

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.