Ritholtz Wealth Management Acquires 15,138 Shares of TechnipFMC plc $FTI

Ritholtz Wealth Management grew its holdings in TechnipFMC plc (NYSE:FTI) by 66.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 37,962 shares of the oil and gas company’s stock after buying an additional 15,138 shares during the quarter. Ritholtz Wealth Management’s holdings in TechnipFMC were worth $2,578,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of TechnipFMC during the second quarter valued at approximately $3,081,514,000. Amundi raised its stake in TechnipFMC by 72.6% in the second quarter. Amundi now owns 4,358,115 shares of the oil and gas company’s stock worth $288,943,000 after buying an additional 1,832,581 shares in the last quarter. Bank of America Corp DE purchased a new stake in TechnipFMC during the second quarter worth $226,069,000. Bank of New York Mellon Corp lifted its holdings in TechnipFMC by 7.3% during the first quarter. Bank of New York Mellon Corp now owns 2,878,798 shares of the oil and gas company’s stock worth $199,011,000 after buying an additional 194,799 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in TechnipFMC by 195.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,791,873 shares of the oil and gas company’s stock worth $189,624,000 after buying an additional 1,847,158 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Activity at TechnipFMC

In other news, insider Thierry Conti sold 6,000 shares of the firm’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $71.85, for a total value of $431,100.00. Following the completion of the sale, the insider owned 85,813 shares of the company’s stock, valued at $6,165,664.05. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FTI. Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Citigroup boosted their price target on TechnipFMC from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, September 15th. Piper Sandler upped their price objective on TechnipFMC from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 3rd. Barclays raised their price objective on TechnipFMC from $86.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. Finally, Weiss Ratings lowered TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $78.18.

TechnipFMC Stock Up 1.8%

NYSE:FTI traded up $1.14 during midday trading on Friday, reaching $66.06. 1,968,778 shares of the stock traded hands, compared to its average volume of 3,193,588. TechnipFMC plc has a 12-month low of $42.46 and a 12-month high of $80.70. The business has a 50-day moving average of $69.83 and a two-hundred day moving average of $69.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 1.09. The stock has a market capitalization of $25.69 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.01 and a beta of 0.89.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.17. TechnipFMC had a net margin of 12.04% and a return on equity of 39.82%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period last year, the firm earned $0.75 earnings per share. TechnipFMC’s revenue was up 9.4% compared to the same quarter last year. On average, equities analysts forecast that TechnipFMC plc will post 3.31 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Tuesday, November 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, November 17th. TechnipFMC’s dividend payout ratio is currently 6.29%.

TechnipFMC Profile

TechnipFMC is a global technology and services company serving the energy industry. It designs and delivers equipment and solutions for offshore and onshore oil and gas projects, with a particular focus on subsea production and related services. Its offerings include subsea production systems, subsea installation and project services, and surface wellhead and production equipment. TechnipFMC also provides engineering and project-management capabilities, working with customers to develop and operate energy projects.