Retirement Systems of Alabama reduced its stake in TechnipFMC PLC (NYSE:FTI) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,020 shares of the oil and gas company’s stock after selling 6,721 shares during the period. Retirement Systems of Alabama’s holdings in TechnipFMC were worth $6,157,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Pinebridge Investments L.P. boosted its holdings in shares of TechnipFMC by 270.1% in the second quarter. Pinebridge Investments L.P. now owns 3,775 shares of the oil and gas company’s stock worth $120,000 after acquiring an additional 2,755 shares during the period. Tower Research Capital LLC TRC bought a new position in shares of TechnipFMC in the second quarter worth $143,000. Putnam Investments LLC bought a new position in shares of TechnipFMC in the second quarter worth $210,000. Dai Ichi Life Insurance Company Ltd bought a new position in shares of TechnipFMC in the second quarter worth $210,000. Finally, Suntrust Banks Inc. bought a new position in shares of TechnipFMC in the first quarter worth $213,000. 64.73% of the stock is owned by hedge funds and other institutional investors.
Shares of FTI stock opened at $26.50 on Monday. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. TechnipFMC PLC has a 52-week low of $25.36 and a 52-week high of $35.00. The firm has a market capitalization of $12.36 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08.
TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.07). TechnipFMC had a return on equity of 3.76% and a net margin of 1.42%. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.22 billion. On average, analysts predict that TechnipFMC PLC will post 1.32 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 5th. Investors of record on Tuesday, November 20th will be given a $0.13 dividend. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.96%. TechnipFMC’s dividend payout ratio (DPR) is presently 20.16%.
FTI has been the subject of a number of analyst reports. Societe Generale raised TechnipFMC from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Wednesday, October 10th. JPMorgan Chase & Co. raised their price target on TechnipFMC from $36.00 to $39.00 and gave the stock an “overweight” rating in a report on Monday, September 17th. Credit Suisse Group initiated coverage on TechnipFMC in a report on Tuesday, July 17th. They issued an “outperform” rating and a $38.00 price target for the company. BMO Capital Markets raised their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a “market perform” rating in a report on Monday, July 30th. Finally, Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Thursday, August 16th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. TechnipFMC has an average rating of “Buy” and a consensus target price of $36.21.
TechnipFMC Company Profile
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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