Bridgewater Associates LP Sells 508,119 Shares of TechnipFMC plc (NYSE:FTI)

Bridgewater Associates LP decreased its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 55.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 415,223 shares of the oil and gas company's stock after selling 508,119 shares during the period. Bridgewater Associates LP owned approximately 0.10% of TechnipFMC worth $10,891,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FTI. Hardman Johnston Global Advisors LLC lifted its stake in TechnipFMC by 13.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company's stock valued at $236,482,000 after buying an additional 1,071,103 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of TechnipFMC by 2.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company's stock valued at $228,384,000 after acquiring an additional 204,435 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of TechnipFMC in the 3rd quarter valued at approximately $185,643,000. Anomaly Capital Management LP boosted its stake in TechnipFMC by 50.3% during the 2nd quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company's stock worth $89,429,000 after acquiring an additional 1,144,087 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of TechnipFMC by 6.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,399,822 shares of the oil and gas company's stock valued at $89,177,000 after buying an additional 219,081 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on FTI shares. Hsbc Global Res raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 29th. BMO Capital Markets lifted their price objective on TechnipFMC from $32.00 to $33.00 and gave the company a "market perform" rating in a report on Thursday, October 10th. StockNews.com raised TechnipFMC from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Susquehanna lifted their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the company a "positive" rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada assumed coverage on shares of TechnipFMC in a research report on Monday, November 18th. They set an "outperform" rating and a $37.00 price objective for the company. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $33.91.

TechnipFMC Stock Up 1.2 %

TechnipFMC stock traded up $0.37 during mid-day trading on Friday, reaching $31.38. The company's stock had a trading volume of 1,970,643 shares, compared to its average volume of 3,994,832. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC plc has a 12 month low of $18.33 and a 12 month high of $31.53. The business's 50 day simple moving average is $27.53 and its 200 day simple moving average is $26.59. The company has a market capitalization of $13.35 billion, a price-to-earnings ratio of 20.63 and a beta of 1.51.

TechnipFMC (NYSE:FTI - Get Free Report) last released its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.25. The business had revenue of $2.35 billion for 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 revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 earnings per share. As a group, research analysts anticipate that TechnipFMC plc will post 1.58 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC's dividend payout ratio (DPR) is currently 13.16%.

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

TechnipFMC Company 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.