Pacer Advisors Inc. Raises Stake in TechnipFMC plc $FTI

Pacer Advisors Inc. boosted its holdings in shares of TechnipFMC plc (NYSE:FTI) by 91.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,837,314 shares of the oil and gas company’s stock after buying an additional 1,833,601 shares during the quarter. Pacer Advisors Inc.’s holdings in TechnipFMC were worth $151,382,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FTI. Geneos Wealth Management Inc. increased its stake in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 340 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in TechnipFMC during the 2nd quarter worth about $44,000. Ossiam raised its stake in shares of TechnipFMC by 52.0% during the 2nd quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 546 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of TechnipFMC by 82.5% in the 2nd quarter. New York State Teachers Retirement System now owns 1,927 shares of the oil and gas company’s stock valued at $66,000 after buying an additional 871 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of TechnipFMC in the second quarter worth about $70,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FTI shares. JPMorgan Chase & Co. lifted their price target on TechnipFMC from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. BNP Paribas set a $47.00 price objective on shares of TechnipFMC and gave the stock an “outperform” rating in a research note on Friday, October 10th. Royal Bank Of Canada increased their price target on shares of TechnipFMC from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of TechnipFMC in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.92.

TechnipFMC Price Performance

TechnipFMC stock opened at $44.68 on Friday. The stock has a market capitalization of $18.07 billion, a P/E ratio of 19.95, a P/E/G ratio of 1.06 and a beta of 0.68. The company’s fifty day moving average price is $43.33 and its 200 day moving average price is $38.73. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $47.33.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share for the quarter, topping 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 company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities research analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC announced that its board has approved a stock buyback program on Wednesday, October 22nd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the oil and gas company to repurchase up to 13.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

TechnipFMC Announces Dividend

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

TechnipFMC 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.