Diversify Advisory Services LLC Cuts Stake in TechnipFMC plc (NYSE:FTI)

Diversify Advisory Services LLC reduced its position in shares of TechnipFMC plc (NYSE:FTI) by 44.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,872 shares of the oil and gas company’s stock after selling 6,269 shares during the quarter. Diversify Advisory Services LLC’s holdings in TechnipFMC were worth $202,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of TechnipFMC by 8.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock valued at $1,019,337,000 after acquiring an additional 3,259,348 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of TechnipFMC by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock worth $1,005,652,000 after purchasing an additional 134,880 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of TechnipFMC by 2.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock worth $228,384,000 after purchasing an additional 204,435 shares during the last quarter. Anomaly Capital Management LP lifted its holdings in shares of TechnipFMC by 50.3% during the second quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock valued at $89,429,000 after purchasing an additional 1,144,087 shares in the last quarter. Finally, William Blair Investment Management LLC increased its holdings in TechnipFMC by 4.3% in the 2nd quarter. William Blair Investment Management LLC now owns 2,016,513 shares of the oil and gas company’s stock worth $52,732,000 after buying an additional 82,872 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

NYSE FTI opened at $26.28 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 12 month low of $18.33 and a 12 month high of $29.85. The stock has a market cap of $11.18 billion, a price-to-earnings ratio of 17.29 and a beta of 1.50. The company’s 50 day moving average is $26.12 and its two-hundred day moving average is $26.19.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the company earned $0.21 EPS. TechnipFMC’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, research analysts anticipate that TechnipFMC plc will post 1.42 earnings per share for the current year.

TechnipFMC declared that its board has approved a share buyback program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in outstanding 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 programs are generally an indication that the company’s management believes its shares are undervalued.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors 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 dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC’s dividend payout ratio is currently 13.16%.

Analysts Set New Price Targets

Several equities analysts have issued reports on FTI shares. TD Cowen upped their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Citigroup increased their price objective on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday. Susquehanna increased their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. Finally, HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.41.

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.