TechnipFMC plc (NYSE:FTI) Shares Purchased by Mount Lucas Management LP

Mount Lucas Management LP raised its stake in TechnipFMC plc (NYSE:FTI) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,612 shares of the oil and gas company’s stock after buying an additional 1,094 shares during the quarter. Mount Lucas Management LP’s holdings in TechnipFMC were worth $1,144,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FTI. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of TechnipFMC by 24.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,536,710 shares of the oil and gas company’s stock worth $40,306,000 after acquiring an additional 301,329 shares during the last quarter. Natixis Advisors LLC lifted its stake in TechnipFMC by 14.6% during the third quarter. Natixis Advisors LLC now owns 109,330 shares of the oil and gas company’s stock worth $2,868,000 after purchasing an additional 13,889 shares in the last quarter. ING Groep NV boosted its position in shares of TechnipFMC by 15.3% during the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock worth $22,697,000 after buying an additional 114,600 shares during the period. Zions Bancorporation N.A. grew its stake in shares of TechnipFMC by 2.7% in the third quarter. Zions Bancorporation N.A. now owns 172,741 shares of the oil and gas company’s stock valued at $4,531,000 after buying an additional 4,467 shares in the last quarter. Finally, KBC Group NV lifted its stake in TechnipFMC by 15.7% during the 3rd quarter. KBC Group NV now owns 12,485 shares of the oil and gas company’s stock worth $327,000 after acquiring an additional 1,692 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

NYSE:FTI opened at $28.18 on Friday. The firm has a market capitalization of $11.99 billion, a PE ratio of 18.54 and a beta of 1.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The business’s fifty day moving average price is $26.54 and its 200 day moving average price is $26.36. TechnipFMC plc has a 12 month low of $18.33 and a 12 month high of $29.85.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.25. The business 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 business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the company earned $0.21 EPS. On average, sell-side analysts anticipate that TechnipFMC plc will post 1.55 earnings per share for the current fiscal year.

TechnipFMC declared that its board has initiated a stock repurchase plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

TechnipFMC Announces Dividend

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

Analysts Set New Price Targets

FTI has been the subject of several research reports. TD Cowen lifted their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, October 25th. BMO Capital Markets upped their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. Citigroup increased their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday. Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Susquehanna increased their price objective on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, TechnipFMC currently has a consensus rating of “Buy” and an average price target of $33.60.

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.