Bank of Montreal Can Increases Stock Position in TechnipFMC plc (NYSE:FTI)

Bank of Montreal Can raised its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 1,630.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 287,454 shares of the oil and gas company's stock after buying an additional 270,845 shares during the quarter. Bank of Montreal Can owned about 0.07% of TechnipFMC worth $7,347,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FTI. Raymond James & Associates raised its position in shares of TechnipFMC by 12.0% in the second quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company's stock worth $8,875,000 after buying an additional 36,326 shares in the last quarter. Atria Investments Inc purchased a new stake in shares of TechnipFMC in the 1st quarter valued at about $1,684,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of 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 acquiring an additional 369,594 shares during the last quarter. ING Groep NV grew its holdings in shares of TechnipFMC by 15.3% during the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company's stock worth $22,697,000 after purchasing an additional 114,600 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in shares of TechnipFMC in the third quarter worth approximately $575,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Trading Up 0.7 %

TechnipFMC stock traded up $0.21 during trading hours on Tuesday, reaching $31.52. The stock had a trading volume of 4,086,133 shares, compared to its average volume of 4,004,624. The stock has a market cap of $13.41 billion, a PE ratio of 20.74 and a beta of 1.54. The company has a fifty day simple moving average of $27.69 and a 200-day simple moving average of $26.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. TechnipFMC plc has a 52 week low of $18.33 and a 52 week high of $31.76.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly 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. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. TechnipFMC's quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 EPS. Analysts forecast that TechnipFMC plc will post 1.58 EPS for the current fiscal year.

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

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC's dividend payout ratio (DPR) is currently 13.16%.

Analyst Ratings Changes

A number of analysts have recently issued reports on FTI shares. HSBC raised shares of TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price objective for the company in a report on Tuesday, October 29th. Citigroup upped their price objective on TechnipFMC from $34.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. TD Cowen reissued a "buy" rating and set a $37.00 price objective on shares of TechnipFMC in a report on Wednesday, November 27th. Royal Bank of Canada assumed coverage on TechnipFMC in a research note on Monday, November 18th. They issued an "outperform" rating and a $37.00 target price for the company. Finally, Bank of America lifted their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $33.91.

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.