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

Loomis Sayles & Co. L P lifted its position in shares of TechnipFMC plc (NYSE:FTI) by 216.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 18,905 shares of the oil and gas company’s stock after purchasing 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 large investors have also recently bought and sold shares of the business. Raymond James & Associates lifted its holdings in TechnipFMC by 12.0% during the 2nd quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company’s stock worth $8,875,000 after buying an additional 36,326 shares during the last quarter. Atria Investments Inc purchased a new stake in TechnipFMC during the first quarter worth approximately $1,684,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in TechnipFMC by 971.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock valued at $10,692,000 after purchasing an additional 369,594 shares in the last quarter. ING Groep NV increased its stake in TechnipFMC by 15.3% in the third 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 acquired a new stake in TechnipFMC during the third quarter worth approximately $575,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

TechnipFMC stock opened at $31.01 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The business has a 50 day simple moving average of $27.44 and a 200-day simple moving average of $26.56. TechnipFMC plc has a 12 month low of $18.33 and a 12 month high of $31.53. The stock has a market capitalization of $13.19 billion, a PE ratio of 20.40 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 EPS. Equities analysts predict that TechnipFMC plc will post 1.58 earnings per share for the current year.

TechnipFMC announced that its board has approved a stock repurchase plan 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 repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

TechnipFMC Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently commented on FTI. Royal Bank of Canada assumed coverage on shares of TechnipFMC in a research report on Monday, November 18th. They issued an “outperform” rating and a $37.00 target price on the stock. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, October 29th. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. TD Cowen reaffirmed a “buy” rating and set a $37.00 price target on shares of TechnipFMC in a research report on Wednesday. Finally, Bank of America increased their price objective on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $33.91.

TechnipFMC Company 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.