MML Investors Services LLC Sells 6,254 Shares of TechnipFMC plc (NYSE:FTI)

MML Investors Services LLC lessened its position in TechnipFMC plc (NYSE:FTI) by 28.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,370 shares of the oil and gas company’s stock after selling 6,254 shares during the quarter. MML Investors Services LLC’s holdings in TechnipFMC were worth $403,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James & Associates increased its stake in shares of TechnipFMC by 12.0% in the second quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company’s stock worth $8,875,000 after purchasing an additional 36,326 shares during the period. Fifth Third Bancorp lifted its holdings in shares of 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 worth $61,000 after buying an additional 2,286 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of TechnipFMC by 10.5% in the second quarter. Bank of New York Mellon Corp now owns 1,322,346 shares of the oil and gas company’s stock valued at $34,579,000 after acquiring an additional 126,142 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of TechnipFMC by 68.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 14,157 shares of the oil and gas company’s stock worth $370,000 after acquiring an additional 5,752 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in TechnipFMC by 2.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 97,923 shares of the oil and gas company’s stock worth $2,531,000 after acquiring an additional 2,360 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Trading Down 0.2 %

Shares of FTI stock opened at $28.82 on Tuesday. The company has a market capitalization of $12.26 billion, a P/E ratio of 18.96 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 12-month low of $18.33 and a 12-month high of $32.64. The firm has a 50-day moving average price of $28.66 and a 200 day moving average price of $27.12.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data 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 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 business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS. Research analysts forecast that TechnipFMC plc will post 1.61 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. TechnipFMC’s payout ratio is 13.16%.

TechnipFMC declared that its board has initiated a stock repurchase plan 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 reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have weighed in on FTI. Barclays increased their price target on shares of TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, October 29th. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Piper Sandler started coverage on TechnipFMC in a research report on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price objective for the company. Finally, The Goldman Sachs Group started coverage on TechnipFMC in a research report on Friday, December 13th. They set a “buy” rating and a $38.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, TechnipFMC presently has an average rating of “Buy” and an average price target of $35.92.

About TechnipFMC

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.