Ninety One UK Ltd Lowers Stock Holdings in TechnipFMC plc $FTI

Ninety One UK Ltd lessened its stake in shares of TechnipFMC plc (NYSE:FTI) by 26.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 329,773 shares of the oil and gas company’s stock after selling 119,867 shares during the quarter. Ninety One UK Ltd owned about 0.08% of TechnipFMC worth $13,010,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FTI. Massachusetts Financial Services Co. MA increased its stake in shares of TechnipFMC by 1.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,141,701 shares of the oil and gas company’s stock worth $349,280,000 after acquiring an additional 189,637 shares during the period. AQR Capital Management LLC increased its position in TechnipFMC by 13.8% during the 2nd quarter. AQR Capital Management LLC now owns 9,938,410 shares of the oil and gas company’s stock worth $342,279,000 after purchasing an additional 1,202,713 shares during the period. Boston Partners lifted its holdings in shares of TechnipFMC by 267.5% in the 2nd quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock valued at $333,041,000 after buying an additional 7,038,640 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of TechnipFMC by 21.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,124,326 shares of the oil and gas company’s stock valued at $162,390,000 after purchasing an additional 910,891 shares in the last quarter. Finally, Norges Bank purchased a new position in TechnipFMC in the second quarter valued at about $151,413,000. 96.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FTI. Royal Bank Of Canada upped their price target on TechnipFMC from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. BNP Paribas Exane raised TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 price target for the company in a research note on Friday, October 10th. Citigroup increased their price objective 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. Barclays raised their target price on shares of TechnipFMC from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Finally, Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $46.92.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $44.56 on Friday. The company has a 50-day simple moving average of $44.06 and a 200-day simple moving average of $39.11. 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 market cap of $18.03 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.05 and a beta of 0.66. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $47.33.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, topping 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 firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the previous year, the company earned $0.64 EPS. TechnipFMC’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC announced that its Board of Directors has initiated a stock buyback plan on Wednesday, October 22nd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the oil and gas company to purchase up to 13.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

TechnipFMC Announces Dividend

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