Diversified Trust Co Decreases Stock Position in TechnipFMC plc $FTI

Diversified Trust Co lessened its stake in TechnipFMC plc (NYSE:FTI) by 54.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,796 shares of the oil and gas company’s stock after selling 22,034 shares during the period. Diversified Trust Co’s holdings in TechnipFMC were worth $742,000 as of its most recent SEC filing.

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

TechnipFMC Trading Down 1.4%

NYSE FTI opened at $44.56 on Friday. The firm has a market capitalization of $18.03 billion, a PE ratio of 19.89, a P/E/G ratio of 1.05 and a beta of 0.66. The stock’s 50 day moving average is $44.06 and its 200 day moving average is $39.11. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $47.33. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.65 by $0.10. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter last year, the firm posted $0.64 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. Research analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC announced that its Board of Directors has approved a share repurchase program on Wednesday, October 22nd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 13.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Tuesday, November 18th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Tuesday, November 18th. TechnipFMC’s dividend payout ratio is 8.93%.

Analyst Upgrades and Downgrades

FTI has been the subject of several recent analyst reports. Barclays upped their price objective on shares of TechnipFMC from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Citigroup upped their price target on TechnipFMC from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a research note on Wednesday, October 8th. Finally, BNP Paribas set a $47.00 price target on TechnipFMC and gave the stock an “outperform” rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, TechnipFMC presently has a consensus rating of “Moderate Buy” and an average price target of $46.92.

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.