TechnipFMC plc (NYSE:FTI) Shares Bought by Pathstone Holdings LLC

Pathstone Holdings LLC grew its holdings in TechnipFMC plc (NYSE:FTI) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 113,624 shares of the oil and gas company’s stock after buying an additional 1,714 shares during the period. Pathstone Holdings LLC’s holdings in TechnipFMC were worth $2,980,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Raymond James & Associates boosted its stake in TechnipFMC by 12.0% during the second quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company’s stock worth $8,875,000 after buying an additional 36,326 shares during the period. Atria Investments Inc purchased a new position in shares of TechnipFMC during the 1st quarter worth approximately $1,684,000. 1832 Asset Management L.P. increased its holdings in TechnipFMC by 70.6% in the 1st quarter. 1832 Asset Management L.P. now owns 54,735 shares of the oil and gas company’s stock valued at $1,374,000 after purchasing an additional 22,645 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in TechnipFMC by 971.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock valued at $10,692,000 after purchasing an additional 369,594 shares during the period. Finally, ING Groep NV lifted its stake in TechnipFMC by 15.3% during the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock worth $22,697,000 after purchasing an additional 114,600 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Stock Up 2.7 %

Shares of NYSE FTI opened at $30.83 on Monday. The business has a 50-day moving average of $27.10 and a two-hundred day moving average of $26.47. The company has a market capitalization of $13.12 billion, a price-to-earnings ratio of 20.28 and a beta of 1.51. TechnipFMC plc has a 1 year low of $18.33 and a 1 year high of $30.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC (NYSE:FTI) last posted its earnings results 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. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 earnings per share. On average, analysts forecast that TechnipFMC plc will post 1.56 earnings per share for the current fiscal year.

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

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.65%. TechnipFMC’s dividend payout ratio is currently 13.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank of Canada started coverage on TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price objective on the stock. Citigroup increased their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Tuesday, October 29th. 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 report on Friday, October 25th. Finally, Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $33.91.

TechnipFMC Company 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.