TechnipFMC plc (NYSE:FTI) Shares Acquired by Vestor Capital LLC

Vestor Capital LLC lifted its stake in TechnipFMC plc (NYSE:FTI) by 31.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 599,459 shares of the oil and gas company’s stock after purchasing an additional 143,990 shares during the quarter. TechnipFMC accounts for 1.2% of Vestor Capital LLC’s portfolio, making the stock its 19th largest position. Vestor Capital LLC’s holdings in TechnipFMC were worth $15,724,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in TechnipFMC by 43.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,405 shares of the oil and gas company’s stock valued at $211,000 after purchasing an additional 2,543 shares during the period. Norden Group LLC grew its stake in shares of TechnipFMC by 99.9% in the first quarter. Norden Group LLC now owns 25,260 shares of the oil and gas company’s stock valued at $634,000 after buying an additional 12,626 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of TechnipFMC in the first quarter valued at $205,000. Whittier Trust Co. purchased a new stake in shares of TechnipFMC in the 1st quarter valued at $29,000. Finally, GSA Capital Partners LLP acquired a new position in TechnipFMC during the 1st quarter worth about $656,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Up 2.6 %

Shares of NYSE:FTI opened at $26.97 on Monday. The company has a market capitalization of $11.47 billion, a P/E ratio of 17.29 and a beta of 1.51. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $26.12 and its 200-day simple moving average is $26.19. TechnipFMC plc has a 52-week low of $18.33 and a 52-week high of $29.85.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS 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 business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the business earned $0.21 earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, equities research analysts forecast that TechnipFMC plc will post 1.42 earnings per share for the current fiscal year.

TechnipFMC declared that its board has approved a share repurchase program on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.74%. TechnipFMC’s dividend payout ratio (DPR) is presently 13.16%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday. TD Cowen lifted their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, October 25th. Citigroup increased their target price on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Tuesday, October 29th. Finally, Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.41.

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.