Janus Henderson Group PLC Sells 11,000 Shares of TechnipFMC plc (NYSE:FTI)

Janus Henderson Group PLC lessened its holdings in shares of TechnipFMC plc (NYSE:FTI) by 5.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 189,536 shares of the oil and gas company’s stock after selling 11,000 shares during the period. Janus Henderson Group PLC’s holdings in TechnipFMC were worth $4,972,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Blue Trust Inc. increased its stake 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 valued at $29,000 after buying an additional 735 shares during the period. ORG Wealth Partners LLC purchased a new position in TechnipFMC during the 3rd quarter valued at $30,000. ORG Partners LLC bought a new position in TechnipFMC in the 2nd quarter worth $33,000. GAMMA Investing LLC lifted its position in shares of TechnipFMC by 59.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 693 shares during the period. Finally, Crewe Advisors LLC bought a new stake in shares of TechnipFMC during the 2nd quarter valued at about $51,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Down 0.6 %

NYSE:FTI opened at $30.14 on Wednesday. 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 market cap of $12.82 billion, a P/E ratio of 19.83 and a beta of 1.54. TechnipFMC plc has a fifty-two week low of $18.33 and a fifty-two week high of $32.64. The firm has a 50-day simple moving average of $28.23 and a two-hundred day simple moving average of $26.87.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.25. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. Analysts predict that TechnipFMC plc will post 1.58 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders 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 dividend yield of 0.66%. The ex-dividend date was Tuesday, November 19th. TechnipFMC’s payout ratio is currently 13.16%.

TechnipFMC declared that its Board of Directors has authorized a share buyback program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in 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 generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FTI shares. Barclays increased their price target on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Bank of America raised their target price on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Royal Bank of Canada initiated coverage on TechnipFMC in a research note on Monday, November 18th. They issued an “outperform” rating and a $37.00 price target on the stock. BMO Capital Markets raised their price objective on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and upped their target price for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $34.42.

About TechnipFMC

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.