Morse Asset Management Inc Raises Position in TechnipFMC plc (NYSE:FTI)

Morse Asset Management Inc boosted its stake in TechnipFMC plc (NYSE:FTI) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,575 shares of the oil and gas company’s stock after buying an additional 1,245 shares during the quarter. Morse Asset Management Inc’s holdings in TechnipFMC were worth $1,772,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Blue Trust Inc. increased its holdings in TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 735 shares during the last quarter. GAMMA Investing LLC boosted its position 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 valued at $30,000 after buying an additional 492 shares during the period. ORG Wealth Partners LLC purchased a new position in TechnipFMC in the 3rd quarter valued at approximately $30,000. ORG Partners LLC purchased a new position in TechnipFMC in the 2nd quarter valued at approximately $33,000. Finally, Crewe Advisors LLC purchased a new position in TechnipFMC in the 2nd quarter valued at approximately $51,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Citigroup lifted their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Barclays lifted their price objective on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. BMO Capital Markets lifted their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. Finally, HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, TechnipFMC currently has a consensus rating of “Buy” and a consensus target price of $33.91.

TechnipFMC Trading Up 0.7 %

NYSE FTI opened at $31.52 on Wednesday. TechnipFMC plc has a one year low of $18.33 and a one year high of $31.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The firm’s fifty day moving average is $27.77 and its two-hundred day moving average is $26.70. The firm has a market cap of $13.41 billion, a PE ratio of 20.74 and a beta of 1.54.

TechnipFMC (NYSE:FTI) last issued its quarterly 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. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the business posted $0.21 earnings per share. The business’s revenue was up 14.2% compared to the same quarter last year. Analysts expect that TechnipFMC plc will post 1.58 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC’s dividend payout ratio is currently 13.16%.

TechnipFMC announced that its board has approved a share repurchase program on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management 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.