Universal Beteiligungs und Servicegesellschaft mbH Has $15.65 Million Stock Holdings in TechnipFMC plc $FTI

Universal Beteiligungs und Servicegesellschaft mbH lowered its holdings in TechnipFMC plc (NYSE:FTI) by 12.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 396,582 shares of the oil and gas company’s stock after selling 55,801 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.10% of TechnipFMC worth $15,645,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FTI. AQR Capital Management LLC increased its holdings 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 buying an additional 1,202,713 shares during the period. Abacus FCF Advisors LLC bought a new stake in TechnipFMC in the third quarter valued at about $6,182,000. Yousif Capital Management LLC raised its position 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 worth $5,241,000 after purchasing an additional 124,872 shares in the last quarter. Ellsworth Advisors LLC bought a new position in TechnipFMC during the third quarter worth about $4,444,000. Finally, Mengis Capital Management Inc. bought a new position in TechnipFMC during the second quarter worth about $537,000. 96.58% of the stock is owned by institutional investors.

TechnipFMC Price Performance

Shares of FTI stock opened at $54.28 on Friday. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $55.05. The stock has a market capitalization of $21.96 billion, a PE ratio of 24.23, a PEG ratio of 1.05 and a beta of 0.66. 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 fifty day moving average is $46.91 and its 200-day moving average is $40.92.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 earnings per share. Equities research analysts expect that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC declared that its board has authorized a stock repurchase program on Wednesday, October 22nd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 13.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

FTI has been the subject of a number of recent research reports. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Susquehanna increased their price objective on TechnipFMC from $48.00 to $56.00 and gave the stock a “positive” rating in a research note on Wednesday, January 7th. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a report on Wednesday, January 7th. Piper Sandler boosted their target price on shares of TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Finally, Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.58.

About TechnipFMC

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.