State Street Corp Buys 133,775 Shares of TechnipFMC plc (NYSE:FTI)

State Street Corp grew its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,200,548 shares of the oil and gas company's stock after purchasing an additional 133,775 shares during the quarter. State Street Corp owned approximately 1.93% of TechnipFMC worth $215,100,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Millburn Ridgefield Corp purchased a new stake in shares of TechnipFMC during the third quarter worth about $189,000. Morse Asset Management Inc increased its stake in TechnipFMC by 2.6% during the 3rd quarter. Morse Asset Management Inc now owns 68,075 shares of the oil and gas company's stock worth $1,786,000 after buying an additional 1,745 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of TechnipFMC by 68.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company's stock valued at $44,454,000 after acquiring an additional 688,622 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of TechnipFMC in the third quarter valued at approximately $311,000. Finally, True Wealth Design LLC acquired a new stake in shares of TechnipFMC in the third quarter worth approximately $57,000. Institutional investors and hedge funds own 96.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FTI shares. Barclays upped their target price on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. Susquehanna increased their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the company a "positive" rating in a report on Friday, October 25th. Bank of America boosted their target price on TechnipFMC from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Monday, October 14th. HSBC upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price target for the company in a report on Tuesday, October 29th. Finally, StockNews.com upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $34.42.

TechnipFMC Stock Performance

FTI stock traded down $0.07 during midday trading on Thursday, hitting $30.86. The stock had a trading volume of 1,291,699 shares, compared to its average volume of 3,995,637. The firm has a market capitalization of $13.13 billion, a price-to-earnings ratio of 20.35 and a beta of 1.54. TechnipFMC plc has a 52 week low of $18.33 and a 52 week high of $32.64. 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 stock has a 50-day simple moving average of $28.30 and a 200 day simple moving average of $26.90.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts' consensus estimates 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 firm's revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 earnings per share. As a group, equities research analysts anticipate that TechnipFMC plc will post 1.58 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.65%. TechnipFMC's payout ratio is presently 13.16%.

TechnipFMC declared that its board has approved a stock repurchase 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 repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually 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.