Wealth Enhancement Advisory Services LLC Has $6.54 Million Position in TechnipFMC plc $FTI

Wealth Enhancement Advisory Services LLC grew its position in shares of TechnipFMC plc (NYSE:FTI) by 43.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 171,168 shares of the oil and gas company’s stock after purchasing an additional 51,998 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in TechnipFMC were worth $6,540,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC increased its position in TechnipFMC by 13.8% in the 2nd quarter. AQR Capital Management LLC now owns 9,938,410 shares of the oil and gas company’s stock valued at $342,279,000 after acquiring an additional 1,202,713 shares during the period. Abacus FCF Advisors LLC bought a new stake in shares of TechnipFMC in the third quarter worth $6,182,000. Yousif Capital Management LLC increased its holdings in TechnipFMC by 1,563.0% in the third quarter. Yousif Capital Management LLC now owns 132,861 shares of the oil and gas company’s stock valued at $5,241,000 after purchasing an additional 124,872 shares during the period. Ellsworth Advisors LLC bought a new position in TechnipFMC during the 3rd quarter worth $4,444,000. Finally, Convergence Investment Partners LLC lifted its holdings in TechnipFMC by 40.3% during the 2nd quarter. Convergence Investment Partners LLC now owns 27,945 shares of the oil and gas company’s stock worth $962,000 after buying an additional 8,028 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group reissued an “outperform” rating on shares of TechnipFMC in a research note on Tuesday, October 28th. Susquehanna increased their target price on shares of TechnipFMC from $48.00 to $56.00 and gave the company a “positive” rating in a research report on Wednesday, January 7th. BNP Paribas Exane set a $47.00 price target on shares of TechnipFMC and gave the stock an “outperform” rating in a report on Friday, October 10th. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of TechnipFMC in a research report on Thursday. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, TechnipFMC currently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

TechnipFMC Price Performance

TechnipFMC stock opened at $54.28 on Monday. The stock has a market capitalization of $21.96 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 1.06 and a beta of 0.66. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $55.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13. The stock’s 50 day moving average price is $46.91 and its two-hundred day moving average price is $41.00.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share 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 quarter in the prior year, the business earned $0.64 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC declared that its Board of Directors has authorized a stock buyback plan on Wednesday, October 22nd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 13.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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.