William Blair Investment Management LLC decreased its position in shares of TechnipFMC plc (NYSE:FTI – Free Report) by 12.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,172,946 shares of the oil and gas company’s stock after selling 1,798,667 shares during the period. William Blair Investment Management LLC owned 3.01% of TechnipFMC worth $218,934,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in TechnipFMC by 11.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,933,447 shares of the oil and gas company’s stock valued at $718,398,000 after buying an additional 5,888,998 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in TechnipFMC by 8.2% during the first quarter. Ameriprise Financial Inc. now owns 20,771,068 shares of the oil and gas company’s stock valued at $283,566,000 after buying an additional 1,575,724 shares in the last quarter. Van ECK Associates Corp raised its holdings in TechnipFMC by 16.7% during the first quarter. Van ECK Associates Corp now owns 10,919,212 shares of the oil and gas company’s stock valued at $149,047,000 after buying an additional 1,564,453 shares in the last quarter. BlackRock Inc. raised its holdings in TechnipFMC by 11.6% during the first quarter. BlackRock Inc. now owns 9,915,455 shares of the oil and gas company’s stock valued at $76,845,000 after buying an additional 1,029,472 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of TechnipFMC by 3.8% in the first quarter. Franklin Resources Inc. now owns 9,034,050 shares of the oil and gas company’s stock worth $123,310,000 after purchasing an additional 333,563 shares during the period. 98.79% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms have recently commented on FTI. Barclays lifted their price objective on TechnipFMC from $24.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. BTIG Research lifted their price objective on TechnipFMC from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, September 20th. StockNews.com began coverage on TechnipFMC in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Susquehanna lifted their price objective on TechnipFMC from $22.00 to $25.00 and gave the stock a “positive” rating in a research note on Wednesday, October 4th. Finally, BNP Paribas lowered TechnipFMC from an “outperform” rating to a “neutral” rating and set a $23.50 price target on the stock. in a research note on Monday, November 6th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.71.
TechnipFMC Price Performance
NYSE FTI traded up $0.37 during trading on Monday, reaching $21.00. 1,541,080 shares of the company traded hands, compared to its average volume of 5,841,062. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 1.19. The stock’s 50 day moving average price is $20.79 and its two-hundred day moving average price is $18.03. The company has a market cap of $9.14 billion, a price-to-earnings ratio of -257.88 and a beta of 1.73. TechnipFMC plc has a 1-year low of $11.09 and a 1-year high of $22.78.
TechnipFMC (NYSE:FTI – Get Free Report) last released its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.98 billion. TechnipFMC had a positive return on equity of 3.70% and a negative net margin of 0.46%. The company’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 earnings per share. As a group, analysts anticipate that TechnipFMC plc will post 0.47 EPS for the current year.
TechnipFMC Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Tuesday, November 21st will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Monday, November 20th. TechnipFMC’s payout ratio is currently -250.00%.
TechnipFMC declared that its Board of Directors has approved a stock repurchase program on Wednesday, July 26th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. 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.
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