Hardman Johnston Global Advisors LLC Acquires 1,071,103 Shares of TechnipFMC plc (NYSE:FTI)

Hardman Johnston Global Advisors LLC grew its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 13.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,015,711 shares of the oil and gas company's stock after purchasing an additional 1,071,103 shares during the period. TechnipFMC comprises approximately 9.3% of Hardman Johnston Global Advisors LLC's investment portfolio, making the stock its 2nd largest holding. Hardman Johnston Global Advisors LLC owned 2.12% of TechnipFMC worth $236,482,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FTI. Blue Trust Inc. grew its holdings in shares of TechnipFMC by 203.6% during 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 period. ORG Wealth Partners LLC purchased a new position in shares of TechnipFMC during the third quarter worth about $30,000. Whittier Trust Co. acquired a new position in TechnipFMC in the 1st quarter valued at about $29,000. GAMMA Investing LLC lifted its position in TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 492 shares during the period. Finally, ORG Partners LLC purchased a new position in shares of TechnipFMC in the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 96.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FTI shares. TD Cowen increased their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. StockNews.com upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Friday, November 1st. HSBC raised shares of TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 target price for the company in a report on Tuesday, October 29th. Bank of America upped their price target on TechnipFMC from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Finally, Citigroup lifted their price target on TechnipFMC from $31.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.41.

TechnipFMC Stock Performance

Shares of NYSE:FTI traded up $1.61 during trading on Wednesday, hitting $28.26. 3,563,890 shares of the company traded hands, compared to its average volume of 4,048,477. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The business's fifty day moving average is $26.11 and its 200-day moving average is $26.22. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 18.65 and a beta of 1.51. TechnipFMC plc has a one year low of $18.33 and a one year high of $29.85.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the firm posted $0.21 EPS. TechnipFMC's quarterly revenue was up 14.2% compared to the same quarter last year. As a group, equities analysts predict that TechnipFMC plc will post 1.42 earnings per share for the current fiscal year.

TechnipFMC announced that its board has initiated a share buyback plan on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC's dividend payout ratio (DPR) is presently 13.16%.

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.