Amalgamated Bank Has $594,000 Holdings in TechnipFMC plc (NYSE:FTI)

Amalgamated Bank trimmed its position in shares of TechnipFMC plc (NYSE:FTI) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,629 shares of the oil and gas company’s stock after selling 866 shares during the quarter. Amalgamated Bank’s holdings in TechnipFMC were worth $594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in TechnipFMC by 43.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,405 shares of the oil and gas company’s stock worth $211,000 after purchasing an additional 2,543 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of TechnipFMC during the 1st quarter worth about $205,000. Envestnet Portfolio Solutions Inc. acquired a new stake in TechnipFMC in the 1st quarter worth approximately $236,000. Vanguard Group Inc. boosted its position in TechnipFMC by 0.3% during the first quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock worth $1,005,652,000 after purchasing an additional 134,880 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in TechnipFMC during the first quarter valued at approximately $965,000. Institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. TD Cowen lifted their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Citigroup boosted their price objective on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, October 29th. Susquehanna upped their price target on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Finally, Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $33.60.

TechnipFMC Trading Down 1.2 %

Shares of TechnipFMC stock opened at $28.16 on Friday. 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 firm has a 50-day moving average of $26.54 and a 200-day moving average of $26.35. TechnipFMC plc has a 52-week low of $18.33 and a 52-week high of $29.85. The stock has a market cap of $11.98 billion, a PE ratio of 18.53 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the company earned $0.21 EPS. As a group, sell-side analysts forecast that TechnipFMC plc will post 1.47 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.71%. TechnipFMC’s dividend payout ratio (DPR) is presently 13.16%.

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

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.