TechnipFMC plc (NYSE:FTI) Stock Position Lowered by Fmr LLC

FMR LLC reduced its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 8.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,266,021 shares of the oil and gas company's stock after selling 1,969,999 shares during the period. FMR LLC owned about 5.00% of TechnipFMC worth $557,808,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James & Associates grew its stake in 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 purchasing an additional 36,326 shares in the last quarter. Atria Investments Inc acquired a new position in shares of TechnipFMC in the 1st quarter worth approximately $1,684,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of TechnipFMC by 971.5% in 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 raised its position in shares of TechnipFMC by 15.3% during the 3rd quarter. ING Groep NV now owns 865,294 shares of the oil and gas company's stock valued at $22,697,000 after acquiring an additional 114,600 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in TechnipFMC during the third quarter worth $575,000. Institutional investors own 96.58% of the company's stock.

TechnipFMC Stock Performance

FTI traded up $0.36 during trading hours on Friday, hitting $31.37. 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 50-day simple moving average of $27.53 and a 200 day simple moving average of $26.59. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $13.35 billion, a PE ratio of 20.63 and a beta of 1.51. TechnipFMC plc has a fifty-two week low of $18.33 and a fifty-two week high of $31.53.

TechnipFMC (NYSE:FTI - Get Free Report) last issued 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 company 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%. The company's quarterly revenue was up 14.2% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. As a group, sell-side analysts expect that TechnipFMC plc will post 1.58 EPS for the current year.

TechnipFMC declared that its board has approved a share buyback plan on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

TechnipFMC Dividend Announcement

The business 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. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. TechnipFMC's dividend payout ratio (DPR) is 13.16%.

Analysts Set New Price Targets

Several research firms have weighed in on FTI. Bank of America boosted their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Monday, October 14th. TD Cowen reaffirmed a "buy" rating and set a $37.00 price objective on shares of TechnipFMC in a research report on Wednesday. BMO Capital Markets raised their target price 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. Royal Bank of Canada started coverage on TechnipFMC in a report on Monday, November 18th. They set an "outperform" rating and a $37.00 target price for the company. Finally, StockNews.com upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. 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 company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $33.91.

About TechnipFMC

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.