Raymond James & Associates Has $6.06 Million Stock Holdings in TechnipFMC plc (NYSE:FTI)

Raymond James & Associates lessened its stake in TechnipFMC plc (NYSE:FTI) by 32.0% in the third quarter, Holdings Channel reports. The firm owned 230,894 shares of the oil and gas company’s stock after selling 108,492 shares during the quarter. Raymond James & Associates’ holdings in TechnipFMC were worth $6,056,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FTI. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 valued at $211,000 after purchasing an additional 2,543 shares in the last quarter. Norden Group LLC grew its position in TechnipFMC by 99.9% during the 1st quarter. Norden Group LLC now owns 25,260 shares of the oil and gas company’s stock worth $634,000 after acquiring an additional 12,626 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of TechnipFMC during the first quarter valued at about $848,000. Janney Montgomery Scott LLC bought a new position in TechnipFMC in the 1st quarter valued at approximately $205,000. Finally, Whittier Trust Co. bought a new stake in TechnipFMC during the 1st quarter worth approximately $29,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $26.69 on Friday. The firm has a market capitalization of $11.35 billion, a PE ratio of 17.56 and a beta of 1.50. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $26.13 and a two-hundred day moving average price of $26.18. TechnipFMC plc has a twelve month low of $18.33 and a twelve month high of $29.85.

TechnipFMC (NYSE:FTI) last announced 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 firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The company’s revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. Equities analysts forecast that TechnipFMC plc will post 1.38 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.75%. TechnipFMC’s dividend payout ratio is presently 13.16%.

TechnipFMC announced that its Board of Directors has authorized a share buyback program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FTI shares. Barclays boosted 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. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday. BMO Capital Markets raised their target price on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. Finally, Citigroup raised their price objective on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.41.

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.