Bank of Montreal Can Grows Stake in TechnipFMC plc (NYSE:FTI)

Bank of Montreal Can increased its holdings in TechnipFMC plc (NYSE:FTI) by 1,630.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 287,454 shares of the oil and gas company’s stock after purchasing an additional 270,845 shares during the period. Bank of Montreal Can owned 0.07% of TechnipFMC worth $7,347,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Loomis Sayles & Co. L P boosted its position in shares of TechnipFMC by 216.3% during the third quarter. Loomis Sayles & Co. L P now owns 18,905 shares of the oil and gas company’s stock worth $496,000 after acquiring an additional 12,928 shares during the last quarter. Fisher Asset Management LLC lifted its stake in TechnipFMC by 0.3% in the 3rd quarter. Fisher Asset Management LLC now owns 533,607 shares of the oil and gas company’s stock worth $13,997,000 after purchasing an additional 1,747 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of TechnipFMC during the 3rd quarter valued at about $393,000. Westfield Capital Management Co. LP bought a new stake in shares of TechnipFMC in the third quarter worth about $49,273,000. Finally, Alpha DNA Investment Management LLC purchased a new stake in shares of TechnipFMC in the third quarter worth about $477,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Down 0.2 %

Shares of NYSE:FTI opened at $31.31 on Tuesday. The firm has a market capitalization of $13.32 billion, a PE ratio of 20.60 and a beta of 1.51. The business has a 50 day simple moving average of $27.61 and a two-hundred day simple moving average of $26.63. TechnipFMC plc has a 1 year low of $18.33 and a 1 year high of $31.53. 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 quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (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 company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the business earned $0.21 EPS. TechnipFMC’s revenue was up 14.2% compared to the same quarter last year. On average, equities analysts predict that TechnipFMC plc will post 1.58 EPS for the current year.

TechnipFMC declared that its Board of Directors has approved a share buyback program on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in outstanding 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 programs are usually an indication that the company’s board believes its stock is undervalued.

TechnipFMC Dividend Announcement

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 $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC’s dividend payout ratio is presently 13.16%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. TD Cowen reaffirmed a “buy” rating and issued a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday, November 27th. Citigroup raised their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Bank of America lifted their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, BMO Capital Markets upped their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus 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.