BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of TechnipFMC PLC (NYSE:FTI) by 8.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 146,336 shares of the oil and gas company’s stock after purchasing an additional 11,131 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in TechnipFMC were worth $2,865,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in FTI. Aviva PLC increased its position in shares of TechnipFMC by 106.1% during the 4th quarter. Aviva PLC now owns 10,029,403 shares of the oil and gas company’s stock valued at $202,577,000 after purchasing an additional 5,162,133 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of TechnipFMC by 1,834.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 926,996 shares of the oil and gas company’s stock valued at $47,000 after purchasing an additional 879,078 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of TechnipFMC during the 3rd quarter valued at about $25,005,000. Van ECK Associates Corp increased its position in shares of TechnipFMC by 35.9% during the 4th quarter. Van ECK Associates Corp now owns 2,853,627 shares of the oil and gas company’s stock valued at $55,874,000 after purchasing an additional 753,219 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of TechnipFMC by 113.8% during the 3rd quarter. Janus Henderson Group PLC now owns 829,612 shares of the oil and gas company’s stock valued at $25,973,000 after purchasing an additional 441,623 shares during the last quarter. 67.98% of the stock is owned by hedge funds and other institutional investors.
In other TechnipFMC news, CEO Douglas J. Pferdehirt purchased 50,000 shares of the company’s stock in a transaction on Monday, December 31st. The stock was acquired at an average cost of $19.20 per share, for a total transaction of $960,000.00. Following the purchase, the chief executive officer now directly owns 525,802 shares of the company’s stock, valued at approximately $10,095,398.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.58% of the company’s stock.
Shares of NYSE:FTI opened at $22.91 on Friday. The company has a market cap of $10.69 billion, a P/E ratio of 27.94, a P/E/G ratio of 2.64 and a beta of 1.23. The company has a quick ratio of 1.15, a current ratio of 1.29 and a debt-to-equity ratio of 0.40. TechnipFMC PLC has a 12-month low of $18.20 and a 12-month high of $34.39.
TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Wednesday, February 20th. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.46). The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.40 billion. TechnipFMC had a negative net margin of 15.31% and a positive return on equity of 2.94%. The company’s revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 earnings per share. On average, sell-side analysts expect that TechnipFMC PLC will post 1.36 earnings per share for the current year.
TechnipFMC declared that its board has authorized a stock buyback program on Wednesday, December 12th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the oil and gas company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Tuesday, March 19th will be paid a $0.13 dividend. The ex-dividend date is Monday, March 18th. This represents a $0.52 annualized dividend and a yield of 2.27%. TechnipFMC’s payout ratio is 15.85%.
Several equities research analysts have recently commented on FTI shares. Bank of America reaffirmed an “underperform” rating on shares of TechnipFMC in a research report on Tuesday, November 20th. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Thursday, November 22nd. HSBC upgraded TechnipFMC from a “reduce” rating to a “hold” rating in a research note on Monday, November 26th. Susquehanna Bancshares reiterated a “buy” rating on shares of TechnipFMC in a research note on Friday, November 30th. Finally, Cowen reiterated a “buy” rating on shares of TechnipFMC in a research note on Monday, December 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the stock. TechnipFMC presently has an average rating of “Buy” and an average price target of $33.29.
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TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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