Qsemble Capital Management LP Grows Position in TechnipFMC plc (NYSE:FTI)

Qsemble Capital Management LP increased its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 136.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,690 shares of the oil and gas company's stock after buying an additional 16,550 shares during the quarter. Qsemble Capital Management LP's holdings in TechnipFMC were worth $753,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Raymond James & Associates grew 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 valued at $8,875,000 after purchasing an additional 36,326 shares during the last quarter. Atria Investments Inc purchased a new stake in TechnipFMC in the first quarter valued at approximately $1,684,000. Sumitomo Mitsui Trust Group Inc. boosted its position in TechnipFMC by 971.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company's stock valued at $10,692,000 after buying an additional 369,594 shares during the last quarter. ING Groep NV increased its holdings in TechnipFMC by 15.3% in the 3rd quarter. ING Groep NV now owns 865,294 shares of the oil and gas company's stock worth $22,697,000 after buying an additional 114,600 shares during the period. Finally, Entropy Technologies LP purchased a new position in TechnipFMC during the 3rd quarter worth approximately $575,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Price Performance

Shares of TechnipFMC stock traded up $0.21 on Wednesday, reaching $31.25. The company's stock had a trading volume of 251,716 shares, compared to its average volume of 3,988,141. 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 company has a market capitalization of $13.29 billion, a P/E ratio of 20.59 and a beta of 1.51. The stock has a 50-day moving average price of $27.21 and a 200-day moving average price of $26.50. TechnipFMC plc has a 52-week low of $18.33 and a 52-week high of $31.53.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings results 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%. The firm's revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS. Analysts expect that TechnipFMC plc will post 1.58 EPS for the current year.

TechnipFMC announced that its Board of Directors has initiated a share buyback 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 usually a sign that the company's board of directors believes its stock is undervalued.

TechnipFMC Announces Dividend

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 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC's dividend payout ratio is presently 13.16%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Royal Bank of Canada began coverage on TechnipFMC in a research report on Monday, November 18th. They set an "outperform" rating and a $37.00 price target on the stock. TD Cowen reiterated a "buy" rating and set a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday. Bank of America upped their target price on TechnipFMC from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Finally, Citigroup lifted their price target on TechnipFMC from $34.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $33.91.

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.