Baker Tilly Wealth Management LLC Has $216,000 Stock Position in TechnipFMC plc (NYSE:FTI)

Baker Tilly Wealth Management LLC lessened its position in TechnipFMC plc (NYSE:FTI) by 41.3% in the third quarter, HoldingsChannel reports. The fund owned 8,243 shares of the oil and gas company’s stock after selling 5,802 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in TechnipFMC were worth $216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. bought a new position in shares of TechnipFMC in the 1st quarter worth $29,000. Blue Trust Inc. grew its holdings in shares of TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 735 shares during the last quarter. GAMMA Investing LLC increased its position in shares of TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 492 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of TechnipFMC in the 3rd quarter worth about $30,000. Finally, ORG Partners LLC bought a new position in TechnipFMC in the 2nd quarter valued at about $33,000. Institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on FTI. Susquehanna increased their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research note on Friday. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Monday, October 21st. Barclays lifted their price objective on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday. TD Cowen increased their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday. Finally, Citigroup boosted their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.65.

TechnipFMC Trading Down 1.5 %

NYSE:FTI opened at $26.08 on Tuesday. The firm’s 50 day moving average is $26.11 and its 200 day moving average is $26.17. TechnipFMC plc has a 12 month low of $18.33 and a 12 month high of $29.85. The stock has a market capitalization of $11.17 billion, a PE ratio of 23.93 and a beta of 1.50. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the firm earned $0.21 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. Sell-side analysts expect that TechnipFMC plc will post 1.38 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.77%. TechnipFMC’s payout ratio is 18.35%.

TechnipFMC declared that its board has approved 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 purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are often 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.