Charles Schwab Investment Management Inc. Acquires 219,081 Shares of TechnipFMC plc (NYSE:FTI)

Charles Schwab Investment Management Inc. raised its holdings in TechnipFMC plc (NYSE:FTI) by 6.9% in the third quarter, Holdings Channel reports. The firm owned 3,399,822 shares of the oil and gas company’s stock after purchasing an additional 219,081 shares during the period. Charles Schwab Investment Management Inc.’s holdings in TechnipFMC were worth $89,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 735 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 492 shares during the period. ORG Wealth Partners LLC purchased a new stake in TechnipFMC in the 3rd quarter worth about $30,000. ORG Partners LLC bought a new stake in TechnipFMC in the 2nd quarter valued at about $33,000. Finally, Crewe Advisors LLC purchased a new stake in TechnipFMC during the second quarter valued at about $51,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FTI. Royal Bank of Canada assumed coverage on shares of TechnipFMC in a research note on Monday, November 18th. They issued an “outperform” rating and a $37.00 target price for the company. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Tuesday, October 29th. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Barclays lifted their price target on TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, TD Cowen restated a “buy” rating and issued a $37.00 target price on shares of TechnipFMC in a research note on Wednesday. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, TechnipFMC has a consensus rating of “Buy” and a consensus price target of $33.91.

TechnipFMC Trading Down 0.1 %

Shares of TechnipFMC stock opened at $31.01 on Thursday. The company has a 50 day simple moving average of $27.32 and a two-hundred day simple moving average of $26.53. The firm has a market cap of $13.19 billion, a PE ratio of 20.40 and a beta of 1.51. TechnipFMC plc has a 1 year low of $18.33 and a 1 year high of $31.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the firm posted $0.21 EPS. The firm’s revenue was up 14.2% compared to the same quarter last year. Analysts expect that TechnipFMC plc will post 1.58 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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

TechnipFMC declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About TechnipFMC

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.