Korea Investment CORP lessened its stake in TechnipFMC PLC (NYSE:FTI) by 33.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 58,273 shares of the oil and gas company’s stock after selling 29,255 shares during the quarter. Korea Investment CORP’s holdings in TechnipFMC were worth $1,821,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in FTI. Trexquant Investment LP acquired a new stake in shares of TechnipFMC during the 2nd quarter worth about $497,000. Chartwell Investment Partners LLC acquired a new position in TechnipFMC during the second quarter worth approximately $2,698,000. Carillon Tower Advisers Inc. increased its position in TechnipFMC by 46.7% during the second quarter. Carillon Tower Advisers Inc. now owns 357,975 shares of the oil and gas company’s stock worth $11,362,000 after buying an additional 113,875 shares during the period. Raymond James & Associates increased its position in TechnipFMC by 1,678.5% during the second quarter. Raymond James & Associates now owns 149,373 shares of the oil and gas company’s stock worth $4,741,000 after buying an additional 140,974 shares during the period. Finally, Russell Investments Group Ltd. increased its position in TechnipFMC by 260.9% during the third quarter. Russell Investments Group Ltd. now owns 534,860 shares of the oil and gas company’s stock worth $16,725,000 after buying an additional 386,641 shares during the period. Institutional investors and hedge funds own 64.83% of the company’s stock.
Several research analysts have commented on the company. ValuEngine lowered TechnipFMC from a “hold” rating to a “sell” rating in a research report on Thursday. Cowen reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Monday. Susquehanna Bancshares reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Friday, November 30th. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Thursday, August 16th. Finally, Guggenheim reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Thursday, November 8th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the stock. TechnipFMC currently has a consensus rating of “Hold” and a consensus target price of $36.24.
TechnipFMC (NYSE:FTI) last announced its earnings results on Wednesday, October 24th. The oil and gas company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.07). TechnipFMC had a net margin of 1.42% and a return on equity of 3.76%. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.22 billion. On average, equities analysts expect that TechnipFMC PLC will post 1.31 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 5th. Shareholders of record on Tuesday, November 20th were paid a $0.13 dividend. The ex-dividend date was Monday, November 19th. This represents a $0.52 annualized dividend and a dividend yield of 2.40%. TechnipFMC’s dividend payout ratio (DPR) is currently 10.08%.
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TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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