TechnipFMC plc (NYSE:FTI) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in TechnipFMC plc (NYSE:FTI) by 2.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 200,373 shares of the oil and gas company’s stock after selling 5,974 shares during the period. State of New Jersey Common Pension Fund D’s holdings in TechnipFMC were worth $5,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in FTI. Price T Rowe Associates Inc. MD increased its position in shares of TechnipFMC by 8.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock valued at $1,019,337,000 after acquiring an additional 3,259,348 shares during the period. Anomaly Capital Management LP increased its position in shares of TechnipFMC by 50.3% in the 2nd quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock valued at $89,429,000 after acquiring an additional 1,144,087 shares during the period. Hardman Johnston Global Advisors LLC increased its position in shares of TechnipFMC by 13.5% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after acquiring an additional 1,071,103 shares during the period. AQR Capital Management LLC increased its position in shares of TechnipFMC by 391.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,036,797 shares of the oil and gas company’s stock valued at $27,112,000 after acquiring an additional 825,842 shares during the period. Finally, Yaupon Capital Management LP increased its position in shares of TechnipFMC by 4,931.0% in the 1st quarter. Yaupon Capital Management LP now owns 805,305 shares of the oil and gas company’s stock valued at $20,221,000 after acquiring an additional 789,298 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Trading Up 0.8 %

FTI stock opened at $29.00 on Tuesday. The company’s 50-day simple moving average is $26.26 and its 200-day simple moving average is $26.29. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 52-week low of $18.33 and a 52-week high of $29.85. The firm has a market cap of $12.34 billion, a P/E ratio of 19.08 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the company posted $0.21 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, equities analysts forecast that TechnipFMC plc will post 1.47 EPS for the current fiscal year.

TechnipFMC declared that its board has authorized a stock repurchase program on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.69%. TechnipFMC’s dividend payout ratio (DPR) is presently 13.16%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Susquehanna upped their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th. TD Cowen upped their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, October 25th. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Tuesday, October 29th. BMO Capital Markets upped their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. Finally, Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $33.30.

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.