Ninety One UK Ltd Decreases Stake in TechnipFMC plc $FTI

Ninety One UK Ltd lowered its position in shares of TechnipFMC plc (NYSE:FTI) by 26.7% during the third quarter, HoldingsChannel reports. The firm owned 329,773 shares of the oil and gas company’s stock after selling 119,867 shares during the period. Ninety One UK Ltd’s holdings in TechnipFMC were worth $13,010,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vident Advisory LLC boosted its position in TechnipFMC by 15.6% in the 1st quarter. Vident Advisory LLC now owns 9,218 shares of the oil and gas company’s stock valued at $292,000 after buying an additional 1,241 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in TechnipFMC during the 1st quarter valued at approximately $500,000. Focus Partners Advisor Solutions LLC increased its holdings in TechnipFMC by 285.7% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 29,517 shares of the oil and gas company’s stock worth $935,000 after purchasing an additional 21,865 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in TechnipFMC during the 1st quarter worth approximately $230,000. Finally, Amundi raised its position in shares of TechnipFMC by 0.9% in the 1st quarter. Amundi now owns 2,277,611 shares of the oil and gas company’s stock valued at $67,167,000 after purchasing an additional 20,887 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

FTI has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price target on shares of TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Citigroup boosted their target price on shares of TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. BNP Paribas set a $47.00 price target on shares of TechnipFMC and gave the stock an “outperform” rating in a research report on Friday, October 10th. Royal Bank Of Canada upped their price objective on TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Finally, JPMorgan Chase & Co. increased their target price on TechnipFMC from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and a consensus target price of $46.92.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $44.56 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average price is $44.06 and its two-hundred day moving average price is $39.11. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $47.33. The stock has a market capitalization of $18.03 billion, a P/E ratio of 19.89, a P/E/G ratio of 1.05 and a beta of 0.66.

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

TechnipFMC Dividend Announcement

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

TechnipFMC declared that its Board of Directors has initiated a share buyback program on Wednesday, October 22nd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 13.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

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.