Covestor Ltd Sells 461 Shares of TechnipFMC plc (NYSE:FTI)

Covestor Ltd lowered its stake in TechnipFMC plc (NYSE:FTI) by 20.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,829 shares of the oil and gas company’s stock after selling 461 shares during the period. Covestor Ltd’s holdings in TechnipFMC were worth $48,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of analysts recently commented on FTI shares. Barclays raised their price target on TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Tuesday, October 29th. TD Cowen upped their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, 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. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $33.60.

TechnipFMC Stock Up 0.9 %

Shares of NYSE:FTI opened at $28.49 on Friday. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $29.85. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 18.74 and a beta of 1.51. The stock has a fifty day simple moving average of $26.45 and a two-hundred day simple moving average of $26.34. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. TechnipFMC’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. On average, research analysts anticipate that TechnipFMC plc will post 1.47 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Tuesday, November 19th. TechnipFMC’s dividend payout ratio (DPR) is currently 13.16%.

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

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.