Thrivent Financial for Lutherans Sells 212,598 Shares of TechnipFMC plc (NYSE:FTI)

Thrivent Financial for Lutherans lowered its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 6.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,002,637 shares of the oil and gas company's stock after selling 212,598 shares during the period. Thrivent Financial for Lutherans owned 0.71% of TechnipFMC worth $78,759,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in shares of TechnipFMC by 8.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company's stock valued at $1,019,337,000 after purchasing an additional 3,259,348 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of TechnipFMC by 0.3% during the first quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company's stock worth $1,005,652,000 after buying an additional 134,880 shares during the period. Hardman Johnston Global Advisors LLC boosted its position in shares of TechnipFMC by 13.5% during 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 buying an additional 1,071,103 shares during the period. Massachusetts Financial Services Co. MA lifted its position in TechnipFMC by 2.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company's stock worth $228,384,000 after purchasing an additional 204,435 shares during the period. Finally, Anomaly Capital Management LP lifted its position in TechnipFMC by 50.3% in the second quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company's stock worth $89,429,000 after purchasing an additional 1,144,087 shares during the period. Hedge funds and other institutional investors own 96.58% of the company's stock.

TechnipFMC Price Performance

Shares of NYSE:FTI traded up $0.33 during trading on Monday, reaching $28.51. The stock had a trading volume of 3,723,327 shares, compared to its average volume of 4,017,585. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The business's 50-day moving average price is $26.63 and its 200 day moving average price is $26.38. TechnipFMC plc has a 52 week low of $18.33 and a 52 week high of $29.85. The stock has a market capitalization of $12.13 billion, a PE ratio of 18.76 and a beta of 1.51.

TechnipFMC (NYSE:FTI - Get Free Report) last announced 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 period in the prior year, the business earned $0.21 EPS. The company's revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, equities analysts predict that TechnipFMC plc will post 1.55 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC's payout ratio is 13.16%.

TechnipFMC declared that its board has initiated a stock buyback plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire 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 shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FTI shares. Hsbc Global Res upgraded TechnipFMC from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. Barclays upped their target price on TechnipFMC from $34.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Bank of America upped their target price on TechnipFMC from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Citigroup increased their price objective on TechnipFMC from $34.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday. Finally, StockNews.com raised TechnipFMC from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $33.91.

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.