LMR Partners LLP Sells 1,896 Shares of TechnipFMC plc (NYSE:FTI)

LMR Partners LLP reduced its holdings in TechnipFMC plc (NYSE:FTI) by 14.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,912 shares of the oil and gas company’s stock after selling 1,896 shares during the quarter. LMR Partners LLP’s holdings in TechnipFMC were worth $286,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Oak Thistle LLC increased its stake in TechnipFMC by 3.2% in the 2nd quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company’s stock worth $358,000 after acquiring an additional 421 shares during the last quarter. Pallas Capital Advisors LLC boosted its holdings in shares of TechnipFMC by 5.1% in the 2nd quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company’s stock worth $246,000 after purchasing an additional 433 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 492 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of TechnipFMC by 4.8% in the 3rd quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company’s stock worth $294,000 after purchasing an additional 515 shares in the last quarter. Finally, Creative Planning boosted its holdings in shares of TechnipFMC by 3.2% in the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock worth $455,000 after purchasing an additional 546 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FTI shares. Susquehanna upped their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Bank of America upped their price objective on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Barclays upped their price objective on TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Citigroup increased their target price on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, TD Cowen increased their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, October 25th. One equities 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 company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $33.91.

TechnipFMC Trading Up 0.9 %

NYSE 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 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 50 day simple moving average of $26.84 and a two-hundred day simple moving average of $26.42. The stock has a market cap of $12.35 billion, a P/E ratio of 19.09 and a beta of 1.51.

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

TechnipFMC declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

TechnipFMC Announces Dividend

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

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.