TechnipFMC plc (NYSE:FTI) Shares Bought by Vestor Capital LLC

Vestor Capital LLC raised its holdings in shares of TechnipFMC plc (NYSE:FTI) by 31.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 599,459 shares of the oil and gas company’s stock after purchasing an additional 143,990 shares during the period. TechnipFMC accounts for approximately 1.2% of Vestor Capital LLC’s investment portfolio, making the stock its 19th biggest holding. Vestor Capital LLC owned about 0.14% of TechnipFMC worth $15,724,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its stake in TechnipFMC by 43.4% in the 1st 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. Norden Group LLC grew its holdings in shares of TechnipFMC by 99.9% during the first quarter. Norden Group LLC now owns 25,260 shares of the oil and gas company’s stock valued at $634,000 after buying an additional 12,626 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of TechnipFMC in the 1st quarter valued at $205,000. Whittier Trust Co. purchased a new position in TechnipFMC in the 1st quarter worth $29,000. Finally, GSA Capital Partners LLP acquired a new stake in TechnipFMC during the 1st quarter worth about $656,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Up 2.6 %

Shares of FTI stock opened at $26.97 on Monday. TechnipFMC plc has a twelve month low of $18.33 and a twelve month high of $29.85. The stock has a market cap of $11.47 billion, a price-to-earnings ratio of 17.29 and a beta of 1.51. The company’s 50-day moving average price is $26.12 and its 200-day moving average price is $26.19. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI) last posted 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 business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 EPS. As a group, equities analysts predict that TechnipFMC plc will post 1.42 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be given a $0.05 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.74%. TechnipFMC’s dividend payout ratio is currently 13.16%.

TechnipFMC announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Susquehanna boosted their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th. Bank of America lifted their price target on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Citigroup boosted their price target on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Barclays raised their price objective 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. Finally, StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.41.

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.