Glenorchy Capital Ltd Reduces Holdings in TechnipFMC plc (NYSE:FTI)

Glenorchy Capital Ltd lowered its stake in TechnipFMC plc (NYSE:FTI) by 33.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 86,760 shares of the oil and gas company’s stock after selling 43,114 shares during the quarter. TechnipFMC makes up about 0.7% of Glenorchy Capital Ltd’s holdings, making the stock its 24th biggest position. Glenorchy Capital Ltd’s holdings in TechnipFMC were worth $2,276,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of FTI. Price T Rowe Associates Inc. MD raised its holdings in shares of TechnipFMC by 8.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after acquiring an additional 3,259,348 shares during the last quarter. Anomaly Capital Management LP raised its stake in 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 purchasing an additional 1,144,087 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in TechnipFMC by 56.7% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,954,356 shares of the oil and gas company’s stock valued at $74,184,000 after purchasing an additional 1,068,788 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of TechnipFMC by 391.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,036,797 shares of the oil and gas company’s stock worth $27,112,000 after purchasing an additional 825,842 shares during the last quarter. Finally, Yaupon Capital Management LP grew its holdings in shares of TechnipFMC by 4,931.0% during the first quarter. Yaupon Capital Management LP now owns 805,305 shares of the oil and gas company’s stock worth $20,221,000 after buying an additional 789,298 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

FTI has been the topic of several recent analyst reports. Susquehanna upped their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Citigroup increased their price target on TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Bank of America lifted their price objective on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, October 14th. BMO Capital Markets upped their target price on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. Finally, StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and an average target price of $30.74.

TechnipFMC Stock Performance

TechnipFMC stock opened at $25.60 on Friday. The company has a market cap of $11.03 billion, a price-to-earnings ratio of 54.47 and a beta of 1.50. TechnipFMC plc has a 12 month low of $18.33 and a 12 month high of $29.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84. The stock’s 50-day moving average is $26.21 and its 200-day moving average is $26.21.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the previous year, the company posted $0.10 earnings per share. TechnipFMC’s revenue was up 17.9% compared to the same quarter last year. Equities analysts anticipate that TechnipFMC plc will post 1.37 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th were issued a $0.05 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.20 annualized dividend and a yield of 0.78%. TechnipFMC’s dividend payout ratio is currently 42.55%.

TechnipFMC Company 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.