TechnipFMC plc (NYSE:FTI) Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC cut its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 26.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,817 shares of the oil and gas company's stock after selling 76,259 shares during the period. Townsquare Capital LLC owned about 0.05% of TechnipFMC worth $5,693,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. grew its position in shares of TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company's stock worth $29,000 after buying an additional 735 shares in the last quarter. GAMMA Investing LLC increased its position in shares of 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 purchasing an additional 492 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of TechnipFMC in the 3rd quarter valued at $30,000. ORG Partners LLC purchased a new stake in shares of TechnipFMC during the 2nd quarter worth $33,000. Finally, Crewe Advisors LLC purchased a new stake in shares of TechnipFMC during the 2nd quarter worth $51,000. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Stock Up 1.2 %

TechnipFMC stock traded up $0.37 during midday trading on Friday, hitting $31.38. 1,970,643 shares of the company were exchanged, compared to its average volume of 3,994,832. 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 plc has a fifty-two week low of $18.33 and a fifty-two week high of $31.53. The company's fifty day moving average price is $27.53 and its 200-day moving average price is $26.59. The company has a market cap of $13.35 billion, a PE ratio of 20.63 and a beta of 1.51.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.25. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm's revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. On average, research analysts predict that TechnipFMC plc will post 1.58 EPS for the current fiscal year.

TechnipFMC announced that its Board of Directors has authorized a share buyback program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its shares are undervalued.

TechnipFMC Dividend Announcement

The business also recently declared 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 is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.64%. TechnipFMC's dividend payout ratio is presently 13.16%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FTI shares. Hsbc Global Res raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. Citigroup increased their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Susquehanna boosted their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the company a "positive" rating in a research report on Friday, October 25th. StockNews.com upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. Finally, BMO Capital Markets upped their target price on TechnipFMC from $32.00 to $33.00 and gave the company a "market perform" rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently 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.