Hardman Johnston Global Advisors LLC Has $236.48 Million Stock Holdings in TechnipFMC plc (NYSE:FTI)

Hardman Johnston Global Advisors LLC raised its holdings in TechnipFMC plc (NYSE:FTI) by 13.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,015,711 shares of the oil and gas company’s stock after purchasing an additional 1,071,103 shares during the period. TechnipFMC accounts for about 9.3% of Hardman Johnston Global Advisors LLC’s holdings, making the stock its 2nd biggest position. Hardman Johnston Global Advisors LLC owned 2.12% of TechnipFMC worth $236,482,000 at the end of the most recent quarter.

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

TechnipFMC Stock Up 1.0 %

Shares of NYSE:FTI opened at $26.65 on Wednesday. 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 firm’s 50-day simple moving average is $26.11 and its 200-day simple moving average is $26.22. TechnipFMC plc has a fifty-two week low of $18.33 and a fifty-two week high of $29.85. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 17.53 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. TechnipFMC’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 EPS. As a group, equities research analysts predict that TechnipFMC plc will post 1.42 earnings per share for the current year.

TechnipFMC announced that its board has initiated a share buyback program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors 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 yield of 0.75%. TechnipFMC’s payout ratio is 13.16%.

Wall Street Analyst Weigh In

FTI has been the topic of a number of research analyst reports. BMO Capital Markets boosted their price target on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, October 10th. TD Cowen increased their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Barclays increased their price objective on shares of TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Finally, Citigroup raised their target price on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and a consensus target price 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.