Jennison Associates LLC Increases Stock Position in TechnipFMC plc (NYSE:FTI)

Jennison Associates LLC boosted its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 95.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,360,587 shares of the oil and gas company's stock after acquiring an additional 1,150,049 shares during the quarter. Jennison Associates LLC owned 0.55% of TechnipFMC worth $61,918,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FTI. Oak Thistle LLC raised its stake in TechnipFMC by 3.2% during the 2nd quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company's stock worth $358,000 after acquiring an additional 421 shares during the period. Pallas Capital Advisors LLC increased its stake in shares of TechnipFMC by 5.1% in the second quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company's stock worth $246,000 after purchasing an additional 433 shares in the last quarter. GAMMA Investing LLC raised its position in shares of TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 492 shares during the period. Ballentine Partners LLC lifted its stake in shares of TechnipFMC by 4.8% during the 3rd quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company's stock valued at $294,000 after buying an additional 515 shares in the last quarter. Finally, Creative Planning boosted its holdings in TechnipFMC by 3.2% in the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company's stock worth $455,000 after buying an additional 546 shares during the period. Institutional investors own 96.58% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on FTI. BMO Capital Markets raised their price target on TechnipFMC from $32.00 to $33.00 and gave the company a "market perform" rating in a report on Thursday, October 10th. Hsbc Global Res raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. HSBC upgraded TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price target for the company in a research note on Tuesday, October 29th. Barclays lifted their price objective 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. Finally, Royal Bank of Canada assumed coverage on shares of TechnipFMC in a research note on Monday. They set an "outperform" rating and a $37.00 target price for the company. One equities research 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $33.91.

TechnipFMC Stock Up 0.9 %

Shares of NYSE FTI opened at $29.02 on Thursday. The stock has a market capitalization of $12.35 billion, a price-to-earnings ratio of 19.09 and a beta of 1.51. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $29.85. 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's 50-day moving average price is $26.84 and its 200-day moving average price is $26.42.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.39 by $0.25. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. TechnipFMC's quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. On average, equities research analysts anticipate that TechnipFMC plc will post 1.55 EPS for the current fiscal year.

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

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.69%. The ex-dividend date is Tuesday, November 19th. TechnipFMC's dividend payout ratio is presently 13.16%.

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.