Janney Capital Management LLC Sells 848 Shares of TechnipFMC plc (NYSE:FTI)

Janney Capital Management LLC reduced its position in TechnipFMC plc (NYSE:FTI) by 3.9% during the third quarter, HoldingsChannel reports. The fund owned 21,042 shares of the oil and gas company’s stock after selling 848 shares during the quarter. Janney Capital Management LLC’s holdings in TechnipFMC were worth $552,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in 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. Vanguard Group Inc. raised its stake in TechnipFMC by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock valued at $1,005,652,000 after acquiring an additional 134,880 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in TechnipFMC by 2.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock valued at $228,384,000 after buying an additional 204,435 shares in the last quarter. Anomaly Capital Management LP grew its holdings in TechnipFMC by 50.3% during 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 buying an additional 1,144,087 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings in TechnipFMC by 4.3% during the 2nd quarter. William Blair Investment Management LLC now owns 2,016,513 shares of the oil and gas company’s stock valued at $52,732,000 after buying an additional 82,872 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FTI has been the subject of a number of recent analyst reports. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Tuesday, October 29th. TD Cowen lifted their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, October 25th. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Citigroup lifted their target price on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and an average target price of $32.41.

TechnipFMC Price Performance

FTI stock opened at $26.28 on Monday. The firm has a market cap of $11.18 billion, a P/E ratio of 17.29 and a beta of 1.51. The firm’s fifty day moving average is $26.12 and its 200 day moving average is $26.19. TechnipFMC plc has a 52 week low of $18.33 and a 52 week high of $29.85. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.39 by $0.25. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. Research analysts predict that TechnipFMC plc will post 1.42 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be issued 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 currently 13.16%.

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