What Makes TechnipFMC plc (FTI) an Attractive Investment?

Miller Value Partners, an investment management company, released its “Deep Value Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the Deep Value Strategy was down 14.67% net of fees compared to the S&P 500 Index, which was down 5.74%. Year-to-date, the strategy was down 23.4% (net of fees).  In addition, please check the fund’s top five holdings to know its best picks in 2022.

Miller Value Partners highlighted stocks like TechnipFMC plc (NYSE:FTI) in the Q3 2022 investor letter. Headquartered in Tyne, the United Kingdom, TechnipFMC plc (NYSE:FTI) is an oil and gas projects, technologies, and systems and services, business operator. On November 10, 2022, TechnipFMC plc (NYSE:FTI) stock closed at $11.63 per share. One-month return of TechnipFMC plc (NYSE:FTI) was 23.59% and its shares gained 68.96% of their value over the last 52 weeks. TechnipFMC plc (NYSE:FTI) has a market capitalization of $5.192 billion.

Miller Value Partners made the following comment about TechnipFMC plc (NYSE:FTI) in its Q3 2022 investor letter:

“During the quarter, the two largest positive contributors were TechnipFMC plc (NYSE:FTI) and Bed Bath & Beyond (BBBY). Both companies’ share prices traded more than 25% higher in the market. TechnipFMC was a new investment made over the past year. We believe the company remains well positioned to gain incremental market share in the current multi-year upcycle for the subsea marketplace. TechnipFMC has industry leading innovation, their integrated offering, iEPCI/Subsea 2.0 platform and configure-to-order model is eliminating engineering costs for new projects and significantly reducing completion time (by up to 1 year).”

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TechnipFMC plc (NYSE:FTI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 26 hedge fund portfolios held TechnipFMC plc (NYSE:FTI)  at the end of the second quarter which was 32 in the previous quarter.

We discussed TechnipFMC plc (NYSE:FTI) in another article and shared Miller Value Partners’ views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.