Swiss National Bank Sells 18,600 Shares of TechnipFMC plc (NYSE:FTI)

Swiss National Bank lowered its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 841,300 shares of the oil and gas company's stock after selling 18,600 shares during the period. Swiss National Bank owned approximately 0.20% of TechnipFMC worth $22,067,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Raymond James & Associates lifted its stake in shares of TechnipFMC by 12.0% in the second quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company's stock worth $8,875,000 after buying an additional 36,326 shares in the last quarter. Atria Investments Inc purchased a new position in shares of TechnipFMC during the first quarter valued at approximately $1,684,000. 1832 Asset Management L.P. raised its holdings in shares of TechnipFMC by 70.6% during the first 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of TechnipFMC by 971.5% during 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 purchasing an additional 369,594 shares during the last quarter. Finally, ING Groep NV raised its holdings in shares of TechnipFMC by 15.3% during the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company's stock valued at $22,697,000 after purchasing an additional 114,600 shares during the last quarter. Institutional investors own 96.58% of the company's stock.

Analyst Ratings Changes

FTI has been the subject of several research reports. Bank of America boosted their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the company a "buy" rating in a report on Monday, October 14th. BMO Capital Markets upped their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company a "market perform" rating in a report on Thursday, October 10th. Barclays upped their target price on shares of TechnipFMC from $34.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Hsbc Global Res raised shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. Finally, StockNews.com raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Friday, November 1st. One research 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 stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $33.91.

TechnipFMC Price Performance

Shares of NYSE:FTI traded up $0.81 during midday trading on Friday, reaching $30.83. 3,476,622 shares of the company were exchanged, compared to its average volume of 4,000,058. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The business's fifty day moving average is $27.10 and its two-hundred day moving average is $26.48. TechnipFMC plc has a one year low of $18.33 and a one year high of $30.91. The stock has a market cap of $13.12 billion, a PE ratio of 20.28 and a beta of 1.51.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the business earned $0.21 earnings per share. TechnipFMC's revenue for the quarter was up 14.2% on a year-over-year basis. As a group, analysts predict that TechnipFMC plc will post 1.55 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm 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 dividend of $0.05 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.65%. TechnipFMC's dividend payout ratio (DPR) is currently 13.16%.

TechnipFMC announced that its board has initiated a stock buyback program 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 buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

TechnipFMC Company 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.