TechnipFMC plc (NYSE:FTI) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. increased its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 68.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,694,759 shares of the oil and gas company's stock after acquiring an additional 688,622 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.40% of TechnipFMC worth $44,454,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its stake in TechnipFMC by 12.0% during the 2nd 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in TechnipFMC by 971.5% during 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 purchasing an additional 369,594 shares during the last quarter. ING Groep NV boosted its stake in TechnipFMC by 15.3% during the 3rd quarter. ING Groep NV now owns 865,294 shares of the oil and gas company's stock worth $22,697,000 after purchasing an additional 114,600 shares during the last quarter. Entropy Technologies LP acquired a new stake in TechnipFMC during the 3rd quarter worth $575,000. Finally, Westfield Capital Management Co. LP acquired a new stake in TechnipFMC during the 3rd quarter worth $49,273,000. Institutional investors and hedge funds own 96.58% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FTI. Bank of America boosted their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Barclays boosted their price target on shares of TechnipFMC from $34.00 to $37.00 and gave the company an "overweight" rating in a research report on Monday, October 28th. Citigroup boosted their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Susquehanna boosted 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. Finally, StockNews.com raised shares of 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $33.91.

TechnipFMC Stock Down 1.5 %

Shares of FTI traded down $0.47 during mid-day trading on Wednesday, hitting $31.05. 1,344,569 shares of the company's stock were exchanged, compared to its average volume of 3,992,790. The company has a market cap of $13.21 billion, a price-to-earnings ratio of 20.74 and a beta of 1.54. TechnipFMC plc has a fifty-two week low of $18.33 and a fifty-two week high of $31.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The stock's 50-day moving average is $27.77 and its 200-day moving average is $26.70.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly 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 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 earnings per share. On average, sell-side analysts anticipate that TechnipFMC plc will post 1.58 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

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

TechnipFMC announced that its Board of Directors has authorized a stock buyback plan on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.