Rockefeller Capital Management L.P. Sells 1,035 Shares of TechnipFMC plc (NYSE:FTI)

Rockefeller Capital Management L.P. cut its position in shares of TechnipFMC plc (NYSE:FTI) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,678 shares of the oil and gas company’s stock after selling 1,035 shares during the period. Rockefeller Capital Management L.P.’s holdings in TechnipFMC were worth $962,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FTI. Pacer Advisors Inc. bought a new stake in TechnipFMC in the 3rd quarter valued at $185,643,000. Westfield Capital Management Co. LP acquired a new stake in shares of TechnipFMC during the 3rd quarter valued at about $49,273,000. Jennison Associates LLC increased its stake in TechnipFMC by 95.0% in the third quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock valued at $61,918,000 after acquiring an additional 1,150,049 shares during the period. Anomaly Capital Management LP raised its position 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 in the last quarter. Finally, Hardman Johnston Global Advisors LLC lifted its stake in TechnipFMC by 13.5% during the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after purchasing an additional 1,071,103 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Trading Down 3.8 %

Shares of FTI opened at $30.73 on Monday. The stock’s fifty day simple moving average is $28.09 and its 200-day simple moving average is $26.80. The firm has a market capitalization of $13.07 billion, a PE ratio of 20.22 and a beta of 1.54. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $32.64. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI) last released its earnings results 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 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 the consensus estimate of $2.35 billion. During the same period in the prior year, the company posted $0.21 EPS. The company’s revenue was up 14.2% compared to the same quarter last year. As a group, research analysts predict that TechnipFMC plc will post 1.58 earnings per share for the current year.

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

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Tuesday, November 19th. TechnipFMC’s dividend payout ratio is presently 13.16%.

Analyst Ratings Changes

FTI has been the subject of several analyst reports. BMO Capital Markets raised their target price on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. TD Cowen reissued a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a report on Wednesday, November 27th. Susquehanna upped their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Royal Bank of Canada initiated coverage on shares of TechnipFMC in a report on Monday, November 18th. They set an “outperform” rating and a $37.00 price target for the company. Finally, Citigroup upped their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $34.42.

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.