Atria Investments Inc Sells 12,411 Shares of TechnipFMC plc (NYSE:FTI)

Atria Investments Inc lessened its position in TechnipFMC plc (NYSE:FTI) by 19.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,672 shares of the oil and gas company’s stock after selling 12,411 shares during the quarter. Atria Investments Inc’s holdings in TechnipFMC were worth $1,382,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of FTI. Blue Trust Inc. grew its holdings in shares of TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 735 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in TechnipFMC during the third quarter valued at approximately $30,000. GAMMA Investing LLC grew its stake in TechnipFMC by 73.1% in the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 492 shares in the last quarter. ORG Partners LLC acquired a new position in shares of TechnipFMC during the 2nd quarter worth approximately $33,000. Finally, Crewe Advisors LLC bought a new stake in shares of TechnipFMC during the 2nd quarter worth approximately $51,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $28.18 on Friday. The firm has a market cap of $11.99 billion, a P/E ratio of 18.54 and a beta of 1.51. The business’s 50 day moving average is $26.54 and its 200-day moving average is $26.36. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 1-year low of $18.33 and a 1-year high of $29.85.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.25. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 EPS. Equities research analysts predict that TechnipFMC plc will post 1.47 earnings per share for the current year.

TechnipFMC declared that its Board of Directors has approved a stock buyback program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

TechnipFMC Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC’s dividend payout ratio (DPR) is 13.16%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. BMO Capital Markets boosted their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, October 10th. Barclays lifted their price objective on shares of TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Susquehanna raised their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research note on Friday, October 25th. Finally, Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, TechnipFMC presently has a consensus rating of “Buy” and a consensus price target of $33.60.

TechnipFMC Company 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.