Public Employees Retirement System of Ohio Makes New Investment in TechnipFMC plc (NYSE:FTI)

Public Employees Retirement System of Ohio bought a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 155,765 shares of the oil and gas company's stock, valued at approximately $4,086,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. grew its stake 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 worth $29,000 after purchasing an additional 735 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in TechnipFMC in the third quarter worth approximately $30,000. GAMMA Investing LLC increased its holdings in shares of TechnipFMC by 59.5% in the third quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company's stock valued at $49,000 after buying an additional 693 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of TechnipFMC in the second quarter valued at $51,000. Finally, Toth Financial Advisory Corp lifted its position in shares of TechnipFMC by 1,900.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company's stock valued at $52,000 after acquiring an additional 1,900 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Performance

NYSE:FTI traded down $0.20 on Monday, hitting $30.80. The company's stock had a trading volume of 3,221,177 shares, compared to its average volume of 3,991,079. TechnipFMC plc has a one year low of $18.33 and a one year high of $32.64. The firm has a market capitalization of $13.10 billion, a P/E ratio of 20.26 and a beta of 1.54. The stock has a fifty day moving average of $28.52 and a two-hundred day moving average of $27.00. 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 (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.35 billion during 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 quarterly revenue was up 14.2% on a year-over-year basis. Research analysts predict that TechnipFMC plc will post 1.61 earnings per share for the current year.

TechnipFMC announced that its board has authorized a share buyback program on Wednesday, October 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.65%. TechnipFMC's dividend payout ratio (DPR) is currently 13.16%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FTI. TD Cowen reiterated a "buy" rating and issued a $37.00 target price on shares of TechnipFMC in a report on Wednesday, November 27th. The Goldman Sachs Group initiated coverage on TechnipFMC in a report on Friday. They set a "buy" rating and a $38.00 price objective on the stock. Royal Bank of Canada assumed coverage on TechnipFMC in a research report on Monday, November 18th. They set an "outperform" rating and a $37.00 price objective for the company. Barclays lifted 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. Finally, Citigroup boosted their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, November 14th. 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $34.69.

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.