Vaughan Nelson Investment Management L.P. raised its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 24.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,536,710 shares of the oil and gas company's stock after purchasing an additional 301,329 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.36% of TechnipFMC worth $40,306,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in shares of TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 735 shares during the period. GAMMA Investing LLC increased its stake in TechnipFMC by 73.1% in the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 492 shares during the period. ORG Wealth Partners LLC bought a new stake in TechnipFMC in the third quarter valued at about $30,000. ORG Partners LLC bought a new stake in TechnipFMC in the second quarter valued at about $33,000. Finally, Crewe Advisors LLC bought a new stake in TechnipFMC in the second quarter valued at about $51,000. Institutional investors own 96.58% of the company's stock.
TechnipFMC Price Performance
Shares of FTI stock traded down $0.31 during trading hours on Friday, reaching $28.18. 3,506,987 shares of the company were exchanged, compared to its average volume of 3,623,271. The stock's fifty day moving average is $26.54 and its two-hundred day moving average is $26.36. TechnipFMC plc has a fifty-two week low of $18.33 and a fifty-two week high of $29.85. The company has a market cap of $11.99 billion, a price-to-earnings ratio of 18.54 and a beta of 1.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.
TechnipFMC (NYSE:FTI - Get Free Report) last announced 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. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the business posted $0.21 earnings per share. TechnipFMC's revenue was up 14.2% compared to the same quarter last year. Sell-side analysts forecast that TechnipFMC plc will post 1.55 earnings per share for the current fiscal year.
TechnipFMC Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.71%. TechnipFMC's dividend payout ratio is currently 13.16%.
TechnipFMC announced that its board has authorized a stock 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 repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Citigroup upped their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday. HSBC raised shares of TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 target price on the stock in a research note on Tuesday, October 29th. Bank of America upped their price objective 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. Hsbc Global Res raised shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 29th. Finally, TD Cowen upped their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, TechnipFMC has a consensus rating of "Buy" and a consensus price target of $33.60.
Check Out Our Latest Analysis on FTI
About TechnipFMC
(
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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