TechnipFMC plc (NYSE:FTI) Stake Reduced by GSA Capital Partners LLP

GSA Capital Partners LLP reduced its stake in shares of TechnipFMC plc (NYSE:FTI) by 72.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,041 shares of the oil and gas company’s stock after selling 43,070 shares during the quarter. GSA Capital Partners LLP’s holdings in TechnipFMC were worth $421,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in TechnipFMC by 8.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after acquiring an additional 3,259,348 shares during the period. Vanguard Group Inc. boosted its position in shares of TechnipFMC by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock valued at $1,005,652,000 after purchasing an additional 134,880 shares during the period. Hardman Johnston Global Advisors LLC boosted its position in shares of TechnipFMC by 13.5% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after purchasing an additional 1,071,103 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of TechnipFMC by 2.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock valued at $228,384,000 after purchasing an additional 204,435 shares during the period. Finally, Anomaly Capital Management LP boosted its position in shares of TechnipFMC by 50.3% in the 2nd quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock valued at $89,429,000 after purchasing an additional 1,144,087 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Up 0.9 %

FTI opened at $29.02 on Thursday. TechnipFMC plc has a fifty-two week low of $18.33 and a fifty-two week high of $29.85. The business has a 50-day moving average of $26.84 and a 200-day moving average of $26.42. 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 company has a market capitalization of $12.35 billion, a PE ratio of 19.09 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last posted its quarterly 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 return on equity of 20.11% and a net margin of 7.63%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the business earned $0.21 EPS. The business’s quarterly revenue was up 14.2% on a year-over-year basis. Equities research analysts forecast that TechnipFMC plc will post 1.55 EPS for the current fiscal year.

TechnipFMC declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC’s dividend payout ratio (DPR) is presently 13.16%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FTI shares. Barclays increased their price target on TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Royal Bank of Canada started coverage on TechnipFMC in a research report on Monday. They issued an “outperform” rating and a $37.00 price target for the company. TD Cowen increased their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, October 25th. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Tuesday, October 29th. Finally, Bank of America raised their price objective on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. One research 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. According to MarketBeat.com, TechnipFMC has an average rating of “Buy” and an average target price of $33.91.

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.