Lisanti Capital Growth LLC lessened its position in TechnipFMC plc (NYSE:FTI - Free Report) by 76.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,965 shares of the oil and gas company's stock after selling 128,980 shares during the period. Lisanti Capital Growth LLC's holdings in TechnipFMC were worth $1,022,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in TechnipFMC by 43.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,405 shares of the oil and gas company's stock worth $211,000 after buying an additional 2,543 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in TechnipFMC in the 1st quarter valued at approximately $205,000. Envestnet Portfolio Solutions Inc. purchased a new stake in TechnipFMC during the 1st quarter valued at $236,000. Vanguard Group Inc. increased its stake in shares of TechnipFMC by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company's stock worth $1,005,652,000 after purchasing an additional 134,880 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of TechnipFMC during the 1st quarter valued at about $965,000. Institutional investors own 96.58% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on FTI shares. Susquehanna boosted their price target on TechnipFMC from $35.00 to $37.00 and gave the company a "positive" rating in a report on Friday, October 25th. StockNews.com upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. Hsbc Global Res raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 29th. HSBC upgraded TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price objective on the stock in a report on Tuesday, October 29th. Finally, Bank of America boosted their price objective on TechnipFMC from $30.00 to $31.00 and gave the company a "buy" rating in a report on Monday, October 14th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, TechnipFMC currently has a consensus rating of "Buy" and an average target price of $33.30.
Get Our Latest Research Report on FTI
TechnipFMC Stock Performance
Shares of FTI traded up $0.14 during midday trading on Tuesday, reaching $29.15. The stock had a trading volume of 2,351,173 shares, compared to its average volume of 4,015,973. The firm has a market cap of $12.40 billion, a PE ratio of 19.08 and a beta of 1.51. 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 50 day simple moving average of $26.26 and a 200-day simple moving average of $26.29. 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 announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the prior year, the company posted $0.21 EPS. The company's revenue was up 14.2% on a year-over-year basis. As a group, sell-side analysts anticipate that TechnipFMC plc will post 1.47 EPS for the current year.
TechnipFMC Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors 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 0.69%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC's payout ratio is currently 13.16%.
TechnipFMC declared that its board has authorized a stock repurchase program 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 buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.
About TechnipFMC
(
Free Report)
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.
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