Swiss National Bank Has $22.07 Million Holdings in TechnipFMC plc (NYSE:FTI)

Swiss National Bank cut its position in shares of TechnipFMC plc (NYSE:FTI) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 841,300 shares of the oil and gas company’s stock after selling 18,600 shares during the period. Swiss National Bank owned 0.20% of TechnipFMC worth $22,067,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in FTI. Price T Rowe Associates Inc. MD lifted its position in shares of TechnipFMC by 8.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after purchasing an additional 3,259,348 shares during the last quarter. Hardman Johnston Global Advisors LLC grew its stake in shares of TechnipFMC by 13.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after acquiring an additional 1,071,103 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in 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 worth $228,384,000 after acquiring an additional 204,435 shares during the period. Anomaly Capital Management LP increased its position in 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 worth $89,429,000 after acquiring an additional 1,144,087 shares during the period. Finally, William Blair Investment Management LLC raised its position in shares of TechnipFMC by 4.3% during the second quarter. William Blair Investment Management LLC now owns 2,016,513 shares of the oil and gas company’s stock valued at $52,732,000 after buying an additional 82,872 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Price Performance

TechnipFMC stock opened at $30.06 on Friday. The business’s 50-day simple moving average is $26.97 and its 200 day simple moving average is $26.45. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The stock has a market cap of $12.79 billion, a price-to-earnings ratio of 19.78 and a beta of 1.51. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $30.23.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.25. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. TechnipFMC’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 EPS. As a group, research analysts anticipate that TechnipFMC plc will post 1.55 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC’s payout ratio is presently 13.16%.

TechnipFMC announced that its board has initiated a stock buyback plan on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

FTI has been the topic of several recent research reports. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Susquehanna lifted their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research note on Friday, October 25th. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Tuesday, October 29th. BMO Capital Markets lifted their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. Finally, Barclays increased their price target on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. One research 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.com, TechnipFMC currently has a consensus rating of “Buy” and an average target price of $33.91.

About TechnipFMC

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.