Pallas Capital Advisors LLC Buys 5,960 Shares of TechnipFMC plc (NYSE:FTI)

Pallas Capital Advisors LLC grew its stake in shares of TechnipFMC plc (NYSE:FTI) by 25.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,011 shares of the oil and gas company’s stock after acquiring an additional 5,960 shares during the quarter. Pallas Capital Advisors LLC’s holdings in TechnipFMC were worth $840,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in shares of TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 735 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in TechnipFMC in the 3rd quarter worth about $30,000. GAMMA Investing LLC raised its position in TechnipFMC by 59.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock worth $49,000 after buying an additional 693 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in TechnipFMC by 1,900.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock valued at $52,000 after acquiring an additional 1,900 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of TechnipFMC during the 3rd quarter valued at about $56,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

NYSE FTI opened at $32.47 on Wednesday. The stock has a market cap of $13.81 billion, a price-to-earnings ratio of 21.36 and a beta of 1.54. TechnipFMC plc has a 12 month low of $18.50 and a 12 month high of $33.45. The company’s 50 day moving average is $30.01 and its two-hundred day moving average is $27.74. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. TechnipFMC’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 EPS. As a group, research analysts anticipate that TechnipFMC plc will post 1.61 earnings per share for the current year.

TechnipFMC declared that its board has authorized a stock buyback program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Tuesday, November 19th. TechnipFMC’s dividend payout ratio (DPR) is 13.16%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Susquehanna increased their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Tuesday, October 29th. 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. Finally, Royal Bank of Canada initiated coverage on TechnipFMC in a research note on Monday, November 18th. They set an “outperform” rating and a $37.00 price target for the company. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $35.92.

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.