Raymond James & Associates Has $6.06 Million Holdings in TechnipFMC plc (NYSE:FTI)

Raymond James & Associates lessened its holdings in TechnipFMC plc (NYSE:FTI) by 32.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 230,894 shares of the oil and gas company’s stock after selling 108,492 shares during the period. Raymond James & Associates owned about 0.05% of TechnipFMC worth $6,056,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FTI. Whittier Trust Co. acquired a new stake in shares of TechnipFMC during the 1st quarter valued at about $29,000. Blue Trust Inc. lifted its position in shares of TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 735 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after buying an additional 492 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of TechnipFMC in the third quarter worth $30,000. Finally, ORG Partners LLC acquired a new stake in TechnipFMC in the 2nd quarter worth $33,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

Shares of FTI opened at $26.69 on Friday. The company’s fifty day simple moving average is $26.13 and its 200 day simple moving average is $26.18. TechnipFMC plc has a 1-year low of $18.33 and a 1-year high of $29.85. The company has a market cap of $11.35 billion, a price-to-earnings ratio of 17.56 and a beta of 1.50. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.

TechnipFMC (NYSE:FTI) last posted its quarterly 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. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 EPS. On average, research analysts forecast that TechnipFMC plc will post 1.38 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.75%. TechnipFMC’s dividend payout ratio (DPR) is presently 13.16%.

TechnipFMC declared that its board has approved a share repurchase program 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 repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Citigroup boosted their price objective on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday. Bank of America increased their price target on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, BMO Capital Markets raised their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.41.

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.