Los Angeles Capital Management LLC Cuts Holdings in TechnipFMC plc (NYSE:FTI)

Los Angeles Capital Management LLC trimmed its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 13.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,026,827 shares of the oil and gas company's stock after selling 165,910 shares during the period. Los Angeles Capital Management LLC owned about 0.24% of TechnipFMC worth $26,934,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Edgestream Partners L.P. purchased a new position in shares of TechnipFMC during the 1st quarter worth approximately $965,000. Atria Investments Inc purchased a new position in shares of TechnipFMC during the 1st quarter worth approximately $1,684,000. Raymond James & Associates increased its stake in TechnipFMC by 12.0% in the 2nd quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company's stock valued at $8,875,000 after purchasing an additional 36,326 shares in the last quarter. 1832 Asset Management L.P. increased its stake in TechnipFMC by 70.6% in the 1st quarter. 1832 Asset Management L.P. now owns 54,735 shares of the oil and gas company's stock valued at $1,374,000 after purchasing an additional 22,645 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new position in TechnipFMC in the 1st quarter valued at approximately $1,421,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Trading Up 0.8 %

Shares of FTI stock traded up $0.23 during mid-day trading on Monday, hitting $29.00. 2,395,471 shares of the company's stock were exchanged, compared to its average volume of 4,023,609. TechnipFMC plc has a fifty-two week low of $18.33 and a fifty-two week high of $29.85. The stock has a 50-day simple moving average of $26.26 and a two-hundred day simple moving average of $26.29. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The stock has a market cap of $12.34 billion, a price-to-earnings ratio of 19.08 and a beta of 1.51.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data 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. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter last year, the firm earned $0.21 earnings per share. The business's revenue was up 14.2% on a year-over-year basis. Equities analysts expect that TechnipFMC plc will post 1.47 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Tuesday, November 19th. TechnipFMC's dividend payout ratio (DPR) is 13.16%.

TechnipFMC declared that its Board of Directors has authorized a stock repurchase program 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 purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FTI. Hsbc Global Res raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 29th. Susquehanna raised their price objective on TechnipFMC from $35.00 to $37.00 and gave the company a "positive" rating in a research note on Friday, October 25th. StockNews.com raised TechnipFMC from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. TD Cowen raised their price objective on TechnipFMC from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Finally, Bank of America increased their target price on TechnipFMC from $30.00 to $31.00 and gave the company a "buy" rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $33.30.

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.