TechnipFMC plc (NYSE:FTI) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its holdings in TechnipFMC plc (NYSE:FTI) by 3.5% in the third quarter, HoldingsChannel.com reports. The firm owned 8,430,450 shares of the oil and gas company’s stock after selling 303,171 shares during the period. Massachusetts Financial Services Co. MA’s holdings in TechnipFMC were worth $221,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 735 shares during the period. GAMMA Investing LLC boosted its stake in TechnipFMC by 73.1% in the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 492 shares during the period. ORG Wealth Partners LLC bought a new position in shares of TechnipFMC during the third quarter valued at approximately $30,000. ORG Partners LLC acquired a new stake in shares of TechnipFMC during the 2nd quarter worth approximately $33,000. Finally, Crewe Advisors LLC bought a new stake in shares of TechnipFMC in the 2nd quarter worth approximately $51,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Up 2.7 %

Shares of FTI stock opened at $30.83 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The stock has a market cap of $13.12 billion, a PE ratio of 20.28 and a beta of 1.51. The business’s fifty day moving average is $27.10 and its 200-day moving average is $26.48. TechnipFMC plc has a 1 year low of $18.33 and a 1 year high of $30.91.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the company posted $0.21 EPS. The business’s revenue was up 14.2% compared to the same quarter last year. Equities analysts expect that TechnipFMC plc will post 1.55 earnings per share for the current fiscal year.

TechnipFMC announced that its Board of Directors has approved a stock repurchase plan on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

TechnipFMC Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Tuesday, November 19th. TechnipFMC’s dividend payout ratio is presently 13.16%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FTI shares. Bank of America increased 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 raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Susquehanna raised their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research note on Friday, October 25th. Finally, TD Cowen boosted their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.