Foundry Partners LLC Makes New Investment in TechnipFMC plc (NYSE:FTI)

Foundry Partners LLC acquired a new stake in shares of TechnipFMC plc (NYSE:FTI) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 13,024 shares of the oil and gas company’s stock, valued at approximately $342,000.

Other institutional investors also recently made changes to their positions in the company. Raymond James & Associates increased its stake in TechnipFMC by 12.0% during the second quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company’s stock worth $8,875,000 after acquiring an additional 36,326 shares during the last quarter. Atria Investments Inc acquired a new stake in TechnipFMC during the 1st quarter worth approximately $1,684,000. 1832 Asset Management L.P. raised its holdings in TechnipFMC by 70.6% in the first quarter. 1832 Asset Management L.P. now owns 54,735 shares of the oil and gas company’s stock valued at $1,374,000 after buying an additional 22,645 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in TechnipFMC by 971.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock valued at $10,692,000 after buying an additional 369,594 shares in the last quarter. Finally, ING Groep NV increased its position in shares of TechnipFMC by 15.3% in the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock worth $22,697,000 after acquiring an additional 114,600 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

Shares of FTI stock opened at $30.83 on Friday. The firm has a market cap of $13.12 billion, a P/E ratio of 20.28 and a beta of 1.51. TechnipFMC plc has a 1-year low of $18.33 and a 1-year high of $30.91. The firm has a fifty day moving average of $27.10 and a two-hundred day moving average of $26.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

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 the consensus estimate of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, research analysts anticipate that TechnipFMC plc will post 1.55 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC’s payout ratio is 13.16%.

TechnipFMC announced that its Board of Directors has authorized a stock buyback plan on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

FTI has been the topic of several recent research reports. Susquehanna lifted their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. Barclays upped their target price on TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. BMO Capital Markets raised 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. Bank of America upped their price target on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $33.91.

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.