Franklin Resources Inc. Has $98.84 Million Position in TechnipFMC plc (NYSE:FTI)

Franklin Resources Inc. grew its stake in shares of TechnipFMC plc (NYSE:FTI) by 23.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 3,639,244 shares of the oil and gas company’s stock after buying an additional 679,748 shares during the period. Franklin Resources Inc.’s holdings in TechnipFMC were worth $98,838,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in FTI. Oak Thistle LLC raised its position in TechnipFMC by 3.2% in the second quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company’s stock worth $358,000 after purchasing an additional 421 shares in the last quarter. Pallas Capital Advisors LLC raised its position in TechnipFMC by 5.1% in the second quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company’s stock worth $246,000 after purchasing an additional 433 shares in the last quarter. Ballentine Partners LLC raised its position in TechnipFMC by 4.8% in the third quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company’s stock worth $294,000 after purchasing an additional 515 shares in the last quarter. Creative Planning raised its position in TechnipFMC by 3.2% in the second quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock worth $455,000 after purchasing an additional 546 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in TechnipFMC by 2.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,963 shares of the oil and gas company’s stock worth $702,000 after purchasing an additional 616 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of FTI stock opened at $31.00 on Monday. TechnipFMC plc has a 52-week low of $18.33 and a 52-week high of $32.64. The stock has a market cap of $13.19 billion, a PE ratio of 20.39 and a beta of 1.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The firm’s 50 day moving average price is $28.45 and its two-hundred day moving average price is $26.97.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the firm 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, analysts forecast that TechnipFMC plc will post 1.61 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were issued a $0.05 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.65%. TechnipFMC’s dividend payout ratio (DPR) is presently 13.16%.

TechnipFMC announced that its board has authorized a stock buyback 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 typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FTI. TD Cowen reissued a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a research report on Wednesday, November 27th. BMO Capital Markets increased their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and upped their price objective for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. Bank of America upped their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada began coverage on shares of TechnipFMC in a research note on Monday, November 18th. They set an “outperform” rating and a $37.00 price objective on the stock. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $34.69.

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.