TechnipFMC plc (NYSE:FTI) Stake Lowered by Emerald Advisers LLC

Emerald Advisers LLC decreased its stake in TechnipFMC plc (NYSE:FTI) by 22.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,590 shares of the oil and gas company’s stock after selling 3,660 shares during the period. Emerald Advisers LLC’s holdings in TechnipFMC were worth $330,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in TechnipFMC by 8.7% in 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 buying an additional 3,259,348 shares during the last quarter. Vanguard Group Inc. increased its holdings 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 valued at $1,005,652,000 after purchasing an additional 134,880 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of TechnipFMC by 2.4% during the second 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 in the last quarter. Anomaly Capital Management LP lifted its holdings 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. Finally, William Blair Investment Management LLC increased its stake in TechnipFMC by 4.3% during the 2nd quarter. William Blair Investment Management LLC now owns 2,016,513 shares of the oil and gas company’s stock valued at $52,732,000 after buying an additional 82,872 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of FTI opened at $26.28 on Monday. The business’s 50-day moving average is $26.12 and its 200-day moving average is $26.19. 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 $11.18 billion, a price-to-earnings ratio of 17.29 and a beta of 1.51. TechnipFMC plc has a fifty-two week low of $18.33 and a fifty-two week high of $29.85.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating 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 firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company posted $0.21 earnings per share. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. Equities research analysts expect that TechnipFMC plc will post 1.42 EPS for the current fiscal year.

TechnipFMC declared that its Board of Directors has approved a stock 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 reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Tuesday, November 19th. TechnipFMC’s dividend payout ratio (DPR) is presently 13.16%.

Wall Street Analyst Weigh In

FTI has been the subject of a number of research analyst reports. TD Cowen upped their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. 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. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday. Finally, Susquehanna lifted their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, TechnipFMC currently has an average rating of “Moderate Buy” and a consensus price target of $32.41.

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.