TechnipFMC plc (NYSE:FTI) Shares Acquired by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P increased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 216.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,905 shares of the oil and gas company’s stock after acquiring an additional 12,928 shares during the period. Loomis Sayles & Co. L P’s holdings in TechnipFMC were worth $496,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Raymond James & Associates increased its holdings in TechnipFMC by 12.0% in the 2nd quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company’s stock worth $8,875,000 after acquiring an additional 36,326 shares in the last quarter. Atria Investments Inc acquired a new stake in shares of TechnipFMC in the first quarter worth approximately $1,684,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of TechnipFMC by 971.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock worth $10,692,000 after purchasing an additional 369,594 shares in the last quarter. ING Groep NV raised its stake in TechnipFMC by 15.3% in the 3rd quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock valued at $22,697,000 after purchasing an additional 114,600 shares during the last quarter. Finally, Entropy Technologies LP purchased a new position in TechnipFMC in the 3rd quarter valued at $575,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on FTI. Royal Bank of Canada initiated coverage on shares of TechnipFMC in a report on Monday, November 18th. They set an “outperform” rating and a $37.00 target price for the company. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Citigroup boosted their target price on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Bank of America upped their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $33.91.

TechnipFMC Price Performance

Shares of FTI opened at $31.01 on Friday. The stock has a market cap of $13.19 billion, a PE ratio of 20.40 and a beta of 1.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. TechnipFMC plc has a 1-year low of $18.33 and a 1-year high of $31.53. The firm has a 50-day simple moving average of $27.44 and a two-hundred day simple moving average of $26.56.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data 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 return on equity of 20.11% and a net margin of 7.63%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the business earned $0.21 EPS. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, analysts forecast that TechnipFMC plc will post 1.58 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC’s payout ratio is 13.16%.

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

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.