TechnipFMC plc (NYSE:FTI) Stock Holdings Increased by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its position in TechnipFMC plc (NYSE:FTI) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 533,607 shares of the oil and gas company’s stock after buying an additional 1,747 shares during the quarter. Fisher Asset Management LLC’s holdings in TechnipFMC were worth $13,997,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FTI. Hardman Johnston Global Advisors LLC grew its holdings 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 during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of TechnipFMC by 2.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock valued at $228,384,000 after purchasing an additional 204,435 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of TechnipFMC during the third quarter valued at approximately $185,643,000. Anomaly Capital Management LP grew its holdings 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of TechnipFMC by 6.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,399,822 shares of the oil and gas company’s stock valued at $89,177,000 after purchasing an additional 219,081 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $31.01 on Thursday. The company’s fifty day moving average is $27.32 and its two-hundred day moving average is $26.53. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $31.53. The company has a market cap of $13.19 billion, a P/E ratio of 20.40 and a beta of 1.51.

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 company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the business earned $0.21 EPS. The company’s revenue was up 14.2% on a year-over-year basis. Equities analysts expect that TechnipFMC plc will post 1.58 earnings per share for the current fiscal year.

TechnipFMC declared that its board has authorized a share buyback program on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.64%. The ex-dividend date is Tuesday, November 19th. TechnipFMC’s dividend payout ratio (DPR) is currently 13.16%.

Analysts Set New Price Targets

Several research firms have recently commented on FTI. BMO Capital Markets upped their target price on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. Royal Bank of Canada initiated coverage on TechnipFMC in a research report on Monday, November 18th. They set an “outperform” rating and a $37.00 price objective for the company. TD Cowen reiterated a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a research report on Wednesday. Bank of America boosted their price objective on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Citigroup boosted their price objective on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, TechnipFMC presently has a consensus rating of “Buy” and a consensus price target of $33.91.

TechnipFMC 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.