Louisiana State Employees Retirement System Purchases New Shares in TechnipFMC plc $FTI

Louisiana State Employees Retirement System purchased a new stake in TechnipFMC plc (NYSE:FTIFree Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 114,400 shares of the oil and gas company’s stock, valued at approximately $4,513,000.

A number of other hedge funds have also recently added to or reduced their stakes in FTI. Massachusetts Financial Services Co. MA lifted its holdings 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 acquiring an additional 189,637 shares during the period. AQR Capital Management LLC boosted its position in shares of TechnipFMC by 13.8% in the 2nd 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 in the last quarter. Boston Partners grew its position in shares of TechnipFMC by 267.5% in the second quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock valued at $333,041,000 after purchasing an additional 7,038,640 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of TechnipFMC by 21.6% during the first 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 acquiring an additional 910,891 shares during the last quarter. Finally, Norges Bank purchased a new stake in TechnipFMC during the 2nd quarter worth about $151,413,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Ratings Changes

FTI has been the subject of a number of research analyst reports. TD Cowen upped their price objective on shares of TechnipFMC from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank Of Canada boosted their price objective on shares of TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a research report on Wednesday, October 8th. BNP Paribas Exane raised shares of TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 price objective for the company in a research report on Friday, October 10th. Finally, BNP Paribas set a $47.00 price objective on shares of TechnipFMC and gave the stock an “outperform” rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.46.

Check Out Our Latest Stock Report on FTI

TechnipFMC Stock Up 1.7%

NYSE:FTI opened at $49.17 on Thursday. The firm has a market capitalization of $19.89 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 0.95 and a beta of 0.66. The stock has a 50 day moving average of $44.68 and a 200-day moving average of $39.51. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $50.09.

TechnipFMC (NYSE:FTIGet Free Report) last released its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.65 by $0.10. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The company’s quarterly revenue was up 12.7% on a year-over-year basis. Analysts predict that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC announced that its Board of Directors has approved a share repurchase plan on Wednesday, October 22nd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 13.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

TechnipFMC Announces Dividend

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

Key Stories Impacting TechnipFMC

Here are the key news stories impacting TechnipFMC this week:

TechnipFMC Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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