TechnipFMC plc (NYSE:FTI) is Shayne & Jacobs LLC’s 7th Largest Position

Shayne & Jacobs LLC raised its position in TechnipFMC plc (NYSE:FTI) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 181,520 shares of the oil and gas company’s stock after buying an additional 920 shares during the quarter. TechnipFMC makes up approximately 1.2% of Shayne & Jacobs LLC’s portfolio, making the stock its 7th biggest position. Shayne & Jacobs LLC’s holdings in TechnipFMC were worth $4,761,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FTI. Blue Trust Inc. raised its stake in shares of TechnipFMC by 203.6% during the third 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. ORG Wealth Partners LLC purchased a new stake in shares of TechnipFMC during the third quarter worth approximately $30,000. Whittier Trust Co. purchased a new stake in shares of TechnipFMC during the first quarter worth approximately $29,000. GAMMA Investing LLC raised its stake 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 purchasing an additional 492 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in shares of TechnipFMC during the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

FTI has been the subject of several analyst reports. TD Cowen upped their price target on TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday. Susquehanna upped their price target on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research note on Friday. Bank of America upped their price target on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Monday, October 21st. Finally, Citigroup boosted their target price on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.37.

TechnipFMC Stock Performance

Shares of FTI opened at $26.47 on Friday. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $29.85. The stock has a market cap of $11.41 billion, a P/E ratio of 56.32 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. The company has a 50-day moving average of $26.13 and a two-hundred day moving average of $26.18.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.39 by $0.25. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 earnings per share. As a group, research analysts predict that TechnipFMC plc will post 1.37 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.76%. TechnipFMC’s dividend payout ratio is presently 42.55%.

TechnipFMC announced that its board has approved a stock repurchase plan on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.