Quantbot Technologies LP decreased its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 36.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,676 shares of the oil and gas company's stock after selling 83,553 shares during the period. Quantbot Technologies LP's holdings in TechnipFMC were worth $3,742,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the stock. Blue Trust Inc. lifted its stake in TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company's stock valued at $29,000 after purchasing an additional 735 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company's stock worth $30,000 after buying an additional 492 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of TechnipFMC in the third quarter worth $30,000. ORG Partners LLC bought a new stake in shares of TechnipFMC in the second quarter worth $33,000. Finally, Crewe Advisors LLC acquired a new position in TechnipFMC in the second quarter valued at $51,000. Institutional investors own 96.58% of the company's stock.
TechnipFMC Price Performance
Shares of NYSE FTI traded up $0.20 during mid-day trading on Wednesday, reaching $31.24. 888,506 shares of the company were exchanged, compared to its average volume of 3,991,386. TechnipFMC plc has a 52 week low of $18.33 and a 52 week high of $31.53. 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 capitalization of $13.29 billion, a PE ratio of 20.59 and a beta of 1.51. The company's 50 day moving average price is $27.21 and its 200 day moving average price is $26.50.
TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.25. The company had revenue of $2.35 billion for the quarter, compared to analysts' expectations 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 last year, the company earned $0.21 EPS. Sell-side analysts forecast that TechnipFMC plc will post 1.58 earnings per share for the current fiscal year.
TechnipFMC declared that its board has initiated a share repurchase plan 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 buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.
TechnipFMC Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Tuesday, November 19th. TechnipFMC's payout ratio is 13.16%.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. Susquehanna upped their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the company a "positive" rating in a research report on Friday, October 25th. Citigroup raised their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Bank of America raised their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Royal Bank of Canada began coverage on shares of TechnipFMC in a research note on Monday, November 18th. They set an "outperform" rating and a $37.00 price target for the company. Finally, HSBC raised shares of TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price objective for the company in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, TechnipFMC has a consensus rating of "Buy" and an average price target of $33.91.
Read Our Latest Stock Analysis on FTI
TechnipFMC Company Profile
(
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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