LMR Partners LLP Sells 1,896 Shares of TechnipFMC plc (NYSE:FTI)

LMR Partners LLP lowered its position in TechnipFMC plc (NYSE:FTI) by 14.8% in the 3rd quarter, Holdings Channel reports. The fund owned 10,912 shares of the oil and gas company’s stock after selling 1,896 shares during the quarter. LMR Partners LLP’s holdings in TechnipFMC were worth $286,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its position in TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 735 shares in the last quarter. GAMMA Investing LLC increased its position in TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 492 shares in the last quarter. ORG Wealth Partners LLC bought a new position in TechnipFMC during the 3rd quarter valued at approximately $30,000. ORG Partners LLC bought a new position in TechnipFMC during the 2nd quarter valued at approximately $33,000. Finally, Crewe Advisors LLC bought a new position in TechnipFMC during the 2nd quarter valued at approximately $51,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Up 0.9 %

Shares of TechnipFMC stock opened at $29.02 on Thursday. 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 stock has a market capitalization of $12.35 billion, a PE ratio of 19.09 and a beta of 1.51. TechnipFMC plc has a 1-year low of $18.33 and a 1-year high of $29.85. The company’s fifty day simple moving average is $26.84 and its 200-day simple moving average is $26.42.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the company posted $0.21 earnings per share. TechnipFMC’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, equities analysts anticipate that TechnipFMC plc will post 1.55 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Tuesday, November 19th. TechnipFMC’s payout ratio is 13.16%.

TechnipFMC announced that its Board of Directors has initiated a share buyback program on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

FTI has been the subject of a number of research analyst reports. Susquehanna lifted their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Barclays lifted their target price on TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Citigroup lifted their target price on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada initiated coverage on TechnipFMC in a report on Monday. They issued an “outperform” rating and a $37.00 target price for the company. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $33.91.

TechnipFMC 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.