Regentatlantic Capital LLC reduced its stake in shares of TechnipFMC PLC (NYSE:FTI) by 67.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,652 shares of the oil and gas company’s stock after selling 31,058 shares during the quarter. Regentatlantic Capital LLC’s holdings in TechnipFMC were worth $458,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pinebridge Investments L.P. raised its holdings in TechnipFMC by 270.1% during the second quarter. Pinebridge Investments L.P. now owns 3,775 shares of the oil and gas company’s stock valued at $120,000 after buying an additional 2,755 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in TechnipFMC during the second quarter valued at about $143,000. Putnam Investments LLC bought a new position in TechnipFMC during the second quarter valued at about $210,000. Dai Ichi Life Insurance Company Ltd bought a new position in TechnipFMC during the second quarter valued at about $210,000. Finally, Suntrust Banks Inc. bought a new position in TechnipFMC during the first quarter valued at about $213,000. Institutional investors own 64.61% of the company’s stock.
FTI has been the topic of several recent research reports. JPMorgan Chase & Co. raised their target price on TechnipFMC from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Monday, September 17th. Morgan Stanley cut their target price on TechnipFMC from $46.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday. Cowen reaffirmed a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a research report on Friday, October 12th. Societe Generale raised TechnipFMC from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Wednesday, October 10th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Monday, October 29th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $36.21.
Shares of NYSE:FTI opened at $26.50 on Friday. The stock has a market capitalization of $12.27 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.99 and a beta of 1.08. TechnipFMC PLC has a 52-week low of $25.36 and a 52-week high of $35.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 1.32.
TechnipFMC (NYSE:FTI) last released its earnings results on Wednesday, October 24th. The oil and gas company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.07). TechnipFMC had a return on equity of 3.76% and a net margin of 1.42%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.22 billion. On average, sell-side analysts predict that TechnipFMC PLC will post 1.32 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 5th. Investors of record on Tuesday, November 20th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Monday, November 19th. TechnipFMC’s dividend payout ratio (DPR) is presently 20.16%.
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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