Lord Abbett & CO. LLC Sells 46,146 Shares of TechnipFMC plc (NYSE:FTI)

Lord Abbett & CO. LLC trimmed its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 4.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,083,298 shares of the oil and gas company's stock after selling 46,146 shares during the quarter. Lord Abbett & CO. LLC owned 0.25% of TechnipFMC worth $28,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James & Associates lifted its holdings 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 valued at $8,875,000 after acquiring an additional 36,326 shares during the period. Pallas Capital Advisors LLC boosted its holdings 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 buying an additional 433 shares during the last quarter. Fifth Third Bancorp grew its position in TechnipFMC by 7,374.2% during the second quarter. Fifth Third Bancorp now owns 2,317 shares of the oil and gas company's stock valued at $61,000 after buying an additional 2,286 shares during the period. Oak Harvest Investment Services increased its holdings in TechnipFMC by 9.9% during the second quarter. Oak Harvest Investment Services now owns 51,904 shares of the oil and gas company's stock valued at $1,357,000 after buying an additional 4,667 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its position in TechnipFMC by 1,785.9% in the second quarter. Hennessy Advisors Inc. now owns 336,440 shares of the oil and gas company's stock worth $8,798,000 after acquiring an additional 318,600 shares during the period. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Trading Down 0.7 %

NYSE:FTI traded down $0.20 during midday trading on Monday, hitting $30.80. 3,221,177 shares of the company traded hands, compared to its average volume of 3,991,079. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $32.64. 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 fifty day moving average is $28.52 and its 200-day moving average is $27.00. The firm has a market capitalization of $13.10 billion, a P/E ratio of 20.26 and a beta of 1.54.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.39 by $0.25. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. TechnipFMC's quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 EPS. On average, sell-side analysts predict that TechnipFMC plc will post 1.61 EPS for the current year.

TechnipFMC declared that its board has approved a share repurchase plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date was Tuesday, November 19th. TechnipFMC's dividend payout ratio (DPR) is presently 13.16%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. TD Cowen restated a "buy" rating and issued a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday, November 27th. BMO Capital Markets raised their price objective on TechnipFMC from $32.00 to $33.00 and gave the stock a "market perform" rating in a research note on Thursday, October 10th. StockNews.com upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research note 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. Finally, Royal Bank of Canada initiated coverage on shares of TechnipFMC in a research note on Monday, November 18th. They set an "outperform" rating and a $37.00 target price on the stock. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $34.69.

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.