Healthcare of Ontario Pension Plan Trust Fund Buys New Shares in TechnipFMC plc (NYSE:FTI)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 100,047 shares of the oil and gas company's stock, valued at approximately $2,624,000.

Several other large investors also recently modified their holdings of the stock. Raymond James & Associates increased its position 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 buying an additional 36,326 shares during the last quarter. Atria Investments Inc bought a new position in shares of TechnipFMC during the 1st quarter worth $1,684,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in 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 worth $10,692,000 after acquiring an additional 369,594 shares during the last quarter. ING Groep NV raised its stake in TechnipFMC by 15.3% in 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 during the period. Finally, Entropy Technologies LP purchased a new stake in TechnipFMC during the third quarter valued at about $575,000. Hedge funds and other institutional investors own 96.58% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. 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 report on Monday, October 14th. TD Cowen reaffirmed a "buy" rating and issued a $37.00 price target on shares of TechnipFMC in a report on Wednesday. Royal Bank of Canada assumed coverage on TechnipFMC in a research note on Monday, November 18th. They set an "outperform" rating and a $37.00 price objective on the stock. Finally, Hsbc Global Res upgraded TechnipFMC from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, TechnipFMC has a consensus rating of "Buy" and an average price target of $33.91.

TechnipFMC Price Performance

Shares of NYSE FTI traded up $0.36 during midday trading on Friday, hitting $31.37. 1,970,643 shares of the company's stock were exchanged, compared to its average volume of 3,025,791. 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 business's fifty day moving average price is $27.61 and its two-hundred day moving average price is $26.63. The company has a market cap of $13.35 billion, a price-to-earnings ratio of 20.64 and a beta of 1.51. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $31.53.

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, topping analysts' consensus estimates of $0.39 by $0.25. The business had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business's quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 EPS. As a group, research analysts forecast that TechnipFMC plc will post 1.58 EPS for the current fiscal 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. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.64%. TechnipFMC's payout ratio is 13.16%.

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

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.