Voya Investment Management LLC Has $19.35 Million Stock Holdings in TechnipFMC plc $FTI

Voya Investment Management LLC reduced its stake in TechnipFMC plc (NYSE:FTI) by 14.6% during the third quarter, Holdings Channel.com reports. The fund owned 490,603 shares of the oil and gas company’s stock after selling 83,917 shares during the period. Voya Investment Management LLC’s holdings in TechnipFMC were worth $19,354,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FTI. Geneos Wealth Management Inc. raised its holdings in TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in TechnipFMC during the second quarter worth $44,000. Ossiam lifted its holdings in TechnipFMC by 52.0% in the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 546 shares during the period. New York State Teachers Retirement System grew its holdings in TechnipFMC by 82.5% during the 2nd quarter. New York State Teachers Retirement System now owns 1,927 shares of the oil and gas company’s stock worth $66,000 after acquiring an additional 871 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of TechnipFMC in the 2nd quarter worth about $70,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FTI shares. UBS Group reaffirmed an “outperform” rating on shares of TechnipFMC in a research note on Tuesday, October 28th. Weiss Ratings restated a “buy (b)” rating on shares of TechnipFMC in a report on Wednesday, October 8th. Piper Sandler lifted their price objective on shares of TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday. Barclays boosted their target price on shares of TechnipFMC from $51.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Finally, Citigroup lifted their price target on shares of TechnipFMC from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.92.

TechnipFMC Stock Up 2.9%

Shares of NYSE FTI opened at $44.78 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. The company has a 50-day moving average price of $42.61 and a 200-day moving average price of $38.47. The stock has a market capitalization of $18.12 billion, a P/E ratio of 19.99, a P/E/G ratio of 1.06 and a beta of 0.68. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $47.33.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.10. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.60 billion. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. On average, equities research analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC declared that its board has authorized a stock repurchase program on Wednesday, October 22nd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 13.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Tuesday, November 18th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 18th. This represents a $0.20 annualized dividend and a yield of 0.4%. TechnipFMC’s dividend payout ratio (DPR) is 8.93%.

TechnipFMC Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.