Sumitomo Mitsui Trust Group Inc. Grows Stock Position in TechnipFMC plc (NYSE:FTI)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 971.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 407,638 shares of the oil and gas company's stock after purchasing an additional 369,594 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.10% of TechnipFMC worth $10,692,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its holdings 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 buying an additional 735 shares during the period. ORG Wealth Partners LLC purchased a new stake in TechnipFMC in the 3rd quarter valued at about $30,000. GAMMA Investing LLC raised its holdings in TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company's stock valued at $30,000 after buying an additional 492 shares during the period. ORG Partners LLC purchased a new stake in TechnipFMC in the 2nd quarter valued at about $33,000. Finally, Crewe Advisors LLC purchased a new stake in TechnipFMC in the 2nd quarter valued at about $51,000. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Stock Up 1.2 %

FTI traded up $0.33 on Monday, reaching $28.51. The company's stock had a trading volume of 3,723,327 shares, compared to its average volume of 4,017,585. The company has a market capitalization of $12.13 billion, a price-to-earnings ratio of 18.76 and a beta of 1.51. 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 moving average of $26.63 and a two-hundred day moving average of $26.38. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

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 for the quarter, beating the consensus estimate of $0.39 by $0.25. The business had revenue of $2.35 billion during 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%. The company's revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 earnings per share. As a group, analysts forecast that TechnipFMC plc will post 1.55 EPS for the current fiscal year.

TechnipFMC announced that its board has authorized a stock buyback plan on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in 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 plans are typically a sign that the company's management believes its shares are undervalued.

TechnipFMC Announces Dividend

The company 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 $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC's payout ratio is currently 13.16%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FTI shares. TD Cowen boosted their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the company a "buy" rating in a report on Friday, October 25th. Royal Bank of Canada assumed coverage on shares of TechnipFMC in a research note on Monday. They set an "outperform" rating and a $37.00 price target on the stock. Susquehanna boosted their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a "positive" rating in a research note on Friday, October 25th. StockNews.com upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Finally, Barclays boosted their price target on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $33.91.

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.