Inspire Investing LLC Invests $943,000 in TechnipFMC plc (NYSE:FTI)

Inspire Investing LLC purchased a new stake in TechnipFMC plc (NYSE:FTI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 32,600 shares of the oil and gas company’s stock, valued at approximately $943,000.

A number of other institutional investors have also recently made changes to their positions in FTI. Franklin Resources Inc. raised its position in TechnipFMC by 23.0% during the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after purchasing an additional 679,748 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in TechnipFMC by 971.5% during the 3rd 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 during the period. ING Groep NV lifted its position in 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 buying an additional 114,600 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in TechnipFMC in the third quarter worth $49,273,000. Finally, Entropy Technologies LP purchased a new position in TechnipFMC during the third quarter worth $575,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $31.69 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average price is $30.64 and its 200-day moving average price is $28.06. The firm has a market cap of $13.48 billion, a P/E ratio of 20.85 and a beta of 1.54. TechnipFMC plc has a 12 month low of $18.53 and a 12 month high of $33.45.

TechnipFMC (NYSE:FTI) last posted its 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 net margin of 7.63% and a return on equity of 20.11%. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm posted $0.21 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, equities research analysts expect that TechnipFMC plc will post 1.62 earnings per share for the current fiscal year.

TechnipFMC declared that its Board of Directors has approved a share repurchase 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 reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FTI shares. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Piper Sandler began coverage on shares of TechnipFMC in a research report on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price objective on the stock. Evercore ISI boosted their target price on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Bank of America increased 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, Royal Bank of Canada initiated coverage on TechnipFMC in a research note on Monday, November 18th. They set an “outperform” rating and a $37.00 price target for the company. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC has a consensus rating of “Buy” and an average price target of $36.15.

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.