Quantbot Technologies LP Sells 83,553 Shares of TechnipFMC plc (NYSE:FTI)

Quantbot Technologies LP trimmed its holdings in TechnipFMC plc (NYSE:FTI) by 36.9% during the third quarter, Holdings Channel reports. The institutional investor owned 142,676 shares of the oil and gas company’s stock after selling 83,553 shares during the quarter. Quantbot Technologies LP’s holdings in TechnipFMC were worth $3,742,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FTI. Pacer Advisors Inc. bought a new position in shares of TechnipFMC during the third quarter valued at about $185,643,000. Westfield Capital Management Co. LP bought a new position in shares of TechnipFMC during the third quarter valued at about $49,273,000. Jennison Associates LLC lifted its position in shares of TechnipFMC by 95.0% during 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 purchasing an additional 1,150,049 shares in the last quarter. Anomaly Capital Management LP lifted its position in shares of TechnipFMC by 50.3% during the second quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock valued at $89,429,000 after purchasing an additional 1,144,087 shares in the last quarter. Finally, Hardman Johnston Global Advisors LLC lifted its position in shares of 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 valued at $236,482,000 after purchasing an additional 1,071,103 shares in the last quarter. 96.58% of the stock is owned by institutional investors.

TechnipFMC Trading Up 1.3 %

Shares of TechnipFMC stock opened at $31.04 on Wednesday. TechnipFMC plc has a 1 year low of $18.33 and a 1 year high of $31.06. The firm has a market cap of $13.21 billion, a PE ratio of 20.42 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 company has a 50 day simple moving average of $27.21 and a two-hundred day simple moving average of $26.50.

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

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

TechnipFMC Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. TechnipFMC’s payout ratio is 13.16%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FTI shares. Susquehanna raised their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Bank of America lifted their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Tuesday, October 29th. Royal Bank of Canada assumed coverage on shares of TechnipFMC in a research note on Monday, November 18th. They issued an “outperform” rating and a $37.00 target price for the company. Finally, BMO Capital Markets lifted 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. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $33.91.

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.