TechnipFMC plc (NYSE:FTI) Shares Sold by Kopion Asset Management LLC

Kopion Asset Management LLC lessened its holdings in TechnipFMC plc (NYSE:FTI) by 14.0% in the 4th quarter, Holdings Channel reports. The firm owned 393,837 shares of the oil and gas company’s stock after selling 63,959 shares during the quarter. TechnipFMC accounts for 8.0% of Kopion Asset Management LLC’s portfolio, making the stock its 2nd biggest holding. Kopion Asset Management LLC’s holdings in TechnipFMC were worth $11,398,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Pacer Advisors Inc. acquired a new position in shares of TechnipFMC during the third quarter valued at about $185,643,000. Westfield Capital Management Co. LP acquired a new stake in shares of TechnipFMC during the 3rd quarter worth approximately $49,273,000. Jennison Associates LLC increased its position in shares of TechnipFMC by 95.0% during the third quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock valued at $61,918,000 after purchasing an additional 1,150,049 shares during the period. Anomaly Capital Management LP raised its stake in shares of TechnipFMC by 50.3% in the second 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 purchasing an additional 1,144,087 shares in the last quarter. Finally, Hardman Johnston Global Advisors LLC lifted its position in TechnipFMC by 13.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after purchasing an additional 1,071,103 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FTI shares. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and upped their price objective for the company from $29.00 to $40.00 in a research note on Friday, December 6th. Susquehanna lifted their price objective on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research report on Friday, December 13th. They issued a “buy” rating and a $38.00 price target on the stock. Finally, BMO Capital Markets raised their price target on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $36.15.

TechnipFMC Stock Up 0.8 %

Shares of NYSE:FTI traded up $0.25 during trading on Wednesday, hitting $32.72. 108,156 shares of the company’s stock traded hands, compared to its average volume of 3,081,823. The company has a 50-day moving average price of $30.01 and a 200-day moving average price of $27.74. TechnipFMC plc has a 52 week low of $18.50 and a 52 week high of $33.45. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The company has a market cap of $13.92 billion, a price-to-earnings ratio of 21.53 and a beta of 1.54.

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. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the company earned $0.21 earnings per share. The business’s revenue was up 14.2% compared to the same quarter last year. As a group, research analysts forecast that TechnipFMC plc will post 1.61 EPS for the current fiscal year.

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

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Tuesday, November 19th. TechnipFMC’s dividend payout ratio (DPR) is presently 13.16%.

TechnipFMC Profile

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.