Bridgewater Associates LP Lowers Position in TechnipFMC plc (NYSE:FTI)

Bridgewater Associates LP decreased its position in shares of TechnipFMC plc (NYSE:FTI) by 55.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 415,223 shares of the oil and gas company’s stock after selling 508,119 shares during the period. Bridgewater Associates LP’s holdings in TechnipFMC were worth $10,891,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Raymond James & Associates boosted its position in shares of TechnipFMC by 12.0% during the second quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company’s stock valued at $8,875,000 after purchasing an additional 36,326 shares in the last quarter. Atria Investments Inc purchased a new position in TechnipFMC during the first quarter valued at $1,684,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of TechnipFMC by 971.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock valued at $10,692,000 after buying an additional 369,594 shares in the last quarter. ING Groep NV grew its position in shares of TechnipFMC by 15.3% in the 3rd quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock worth $22,697,000 after buying an additional 114,600 shares during the period. Finally, Entropy Technologies LP bought a new position in shares of TechnipFMC in the 3rd quarter worth about $575,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Down 0.1 %

TechnipFMC stock opened at $31.01 on Friday. TechnipFMC plc has a one year low of $18.33 and a one year high of $31.53. The stock has a fifty day moving average of $27.44 and a 200 day moving average of $26.56. 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 stock has a market cap of $13.19 billion, a PE ratio of 20.40 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm earned $0.21 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, sell-side analysts predict that TechnipFMC plc will post 1.58 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be given a $0.05 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.64%. TechnipFMC’s payout ratio is presently 13.16%.

TechnipFMC announced that its Board of Directors has initiated a share repurchase plan 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 reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts recently commented on FTI shares. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. 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 research report on Thursday, October 10th. Barclays upped their price target on TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Royal Bank of Canada started coverage on TechnipFMC in a research note on Monday, November 18th. They set an “outperform” rating and a $37.00 price objective for the company. Finally, Bank of America increased their target price on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $33.91.

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.