TechnipFMC plc (NYSE:FTI) Holdings Lifted by Diversified Trust Co

Diversified Trust Co raised its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 68.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,281 shares of the oil and gas company's stock after acquiring an additional 24,989 shares during the quarter. Diversified Trust Co's holdings in TechnipFMC were worth $1,773,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock valued at $98,838,000 after purchasing an additional 679,748 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in TechnipFMC by 971.5% in the third 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 purchasing an additional 369,594 shares during the last quarter. ING Groep NV lifted its position in 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 buying an additional 114,600 shares during the period. Westfield Capital Management Co. LP acquired a new stake in TechnipFMC in the 3rd quarter worth about $49,273,000. Finally, Entropy Technologies LP purchased a new stake in TechnipFMC in the 3rd quarter valued at about $575,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Stock Up 0.9 %

NYSE FTI traded up $0.30 on Thursday, hitting $32.48. 2,959,003 shares of the stock traded hands, compared to its average volume of 3,639,681. The company has a market capitalization of $13.82 billion, a P/E ratio of 21.37 and a beta of 1.54. The stock has a 50-day moving average of $29.78 and a 200 day moving average of $27.63. 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 plc has a twelve month low of $18.33 and a twelve month high of $32.64.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data 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. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period last year, the business posted $0.21 earnings per share. The firm's revenue for the quarter was up 14.2% on a year-over-year basis. As a group, analysts expect that TechnipFMC plc will post 1.61 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Tuesday, November 19th. TechnipFMC's dividend payout ratio is presently 13.16%.

TechnipFMC announced that its Board of Directors has authorized a stock buyback program on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

FTI has been the topic of several recent analyst reports. BMO Capital Markets increased their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a "market perform" rating in a report on Thursday, October 10th. TD Cowen reiterated a "buy" rating and issued a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. Piper Sandler started coverage on TechnipFMC in a report on Thursday, December 19th. They issued an "overweight" rating and a $39.00 price objective on the stock. Jefferies Financial Group raised shares of TechnipFMC from a "hold" rating to a "buy" rating and increased their target price for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Finally, 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 report on Friday, October 25th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, TechnipFMC has a consensus rating of "Buy" and an average target price of $35.92.

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.