Sanctuary Advisors LLC Increases Position in TechnipFMC plc (NYSE:FTI)

Sanctuary Advisors LLC lifted its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 264.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,783 shares of the oil and gas company's stock after purchasing an additional 20,877 shares during the period. Sanctuary Advisors LLC's holdings in TechnipFMC were worth $755,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Pacer Advisors Inc. purchased a new position in shares of TechnipFMC during the third quarter valued at about $185,643,000. Westfield Capital Management Co. LP bought a new position in shares of TechnipFMC in the 3rd quarter worth approximately $49,273,000. Jennison Associates LLC lifted its stake in shares of TechnipFMC by 95.0% in the 3rd quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company's stock valued at $61,918,000 after purchasing an additional 1,150,049 shares during the period. Anomaly Capital Management LP boosted its position in shares of TechnipFMC by 50.3% during the second quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company's stock valued at $89,429,000 after purchasing an additional 1,144,087 shares in the last quarter. Finally, Hardman Johnston Global Advisors LLC grew its stake in TechnipFMC by 13.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company's stock worth $236,482,000 after purchasing an additional 1,071,103 shares during the period. 96.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FTI. BMO Capital Markets raised their price objective on TechnipFMC from $32.00 to $33.00 and gave the company a "market perform" rating in a research report on Thursday, October 10th. Susquehanna raised their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a "positive" rating in a research note on Friday, October 25th. Citigroup upped their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. StockNews.com upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Finally, TD Cowen reissued a "buy" rating and issued a $37.00 target price on shares of TechnipFMC in a research note on Wednesday, November 27th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $35.92.

TechnipFMC Stock Performance

Shares of FTI traded up $0.27 during mid-day trading on Tuesday, hitting $29.09. 1,763,271 shares of the company traded hands, compared to its average volume of 3,997,503. TechnipFMC plc has a 1 year low of $18.33 and a 1 year high of $32.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The stock has a 50-day moving average price of $28.75 and a two-hundred day moving average price of $27.19. The stock has a market cap of $12.38 billion, a price-to-earnings ratio of 19.14 and a beta of 1.54.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the business posted $0.21 EPS. The company's revenue for the quarter was up 14.2% on a year-over-year basis. Equities analysts anticipate that TechnipFMC plc will post 1.61 earnings per share for the current year.

TechnipFMC Dividend Announcement

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

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

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.