Wellington Management Group LLP Reduces Stock Holdings in TechnipFMC plc (NYSE:FTI)

Wellington Management Group LLP decreased its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 11.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,009,136 shares of the oil and gas company's stock after selling 249,778 shares during the period. Wellington Management Group LLP owned 0.47% of TechnipFMC worth $52,700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. ORG Partners LLC bought a new position in TechnipFMC during the 2nd quarter valued at $33,000. Raymond James & Associates raised its holdings in shares of TechnipFMC by 12.0% during the second quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company's stock valued at $8,875,000 after acquiring an additional 36,326 shares during the period. Pallas Capital Advisors LLC raised its holdings in shares of TechnipFMC by 5.1% during the second quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company's stock valued at $246,000 after acquiring an additional 433 shares during the period. Fifth Third Bancorp grew its position in TechnipFMC by 7,374.2% during the second quarter. Fifth Third Bancorp now owns 2,317 shares of the oil and gas company's stock valued at $61,000 after purchasing an additional 2,286 shares in the last quarter. Finally, Oak Harvest Investment Services grew its position in TechnipFMC by 9.9% during the second quarter. Oak Harvest Investment Services now owns 51,904 shares of the oil and gas company's stock valued at $1,357,000 after purchasing an additional 4,667 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on FTI. 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, November 14th. Jefferies Financial Group raised shares of TechnipFMC from a "hold" rating to a "buy" rating and raised their target price for the company from $29.00 to $40.00 in a research note on Friday, December 6th. 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. Barclays increased their price target on shares of TechnipFMC from $34.00 to $37.00 and gave the company an "overweight" rating in a research report on Monday, October 28th. Finally, Hsbc Global Res upgraded shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. One 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. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $34.42.

TechnipFMC Price Performance

Shares of NYSE FTI traded down $0.06 during trading hours on Thursday, reaching $30.87. 1,331,926 shares of the stock traded hands, compared to its average volume of 3,996,023. The company has a market capitalization of $13.13 billion, a P/E ratio of 20.35 and a beta of 1.54. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 52-week low of $18.33 and a 52-week high of $32.64. The company's 50-day simple moving average is $28.30 and its two-hundred day simple moving average is $26.90.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.25. The firm had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business's revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. Equities research analysts forecast that TechnipFMC plc will post 1.58 EPS for the current year.

TechnipFMC Dividend Announcement

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

TechnipFMC declared that its board has authorized a stock repurchase plan on Wednesday, October 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is 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.