California Public Employees Retirement System Decreases Holdings in TechnipFMC plc (NYSE:FTI)

California Public Employees Retirement System lowered its stake in shares of TechnipFMC plc (NYSE:FTI) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 902,426 shares of the oil and gas company’s stock after selling 16,759 shares during the quarter. California Public Employees Retirement System owned approximately 0.21% of TechnipFMC worth $14,998,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FTI. Global Retirement Partners LLC grew its position in shares of TechnipFMC by 52.1% during the 1st quarter. Global Retirement Partners LLC now owns 2,728 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 934 shares during the period. Captrust Financial Advisors grew its holdings in TechnipFMC by 65.1% during the second quarter. Captrust Financial Advisors now owns 7,461 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 2,943 shares during the period. Tower Research Capital LLC TRC increased its position in TechnipFMC by 199.5% in the third quarter. Tower Research Capital LLC TRC now owns 6,612 shares of the oil and gas company’s stock worth $56,000 after buying an additional 4,404 shares during the last quarter. Zions Bancorporation N.A. bought a new stake in shares of TechnipFMC in the first quarter valued at $58,000. Finally, American International Group Inc. purchased a new position in shares of TechnipFMC during the 2nd quarter valued at $65,000. Hedge funds and other institutional investors own 98.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FTI shares. HSBC lifted their price objective on TechnipFMC from $13.80 to $23.20 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. StockNews.com initiated coverage on shares of TechnipFMC in a research note on Thursday, October 5th. They set a “hold” rating on the stock. BTIG Research lifted their price objective on shares of TechnipFMC from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, September 20th. Jefferies Financial Group downgraded TechnipFMC from a “buy” rating to a “hold” rating and increased their target price for the stock from $18.00 to $22.00 in a research report on Friday, October 13th. Finally, Barclays lifted their price target on TechnipFMC from $24.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.71.

TechnipFMC Stock Performance

Shares of FTI opened at $20.96 on Tuesday. TechnipFMC plc has a 12-month low of $11.09 and a 12-month high of $22.78. The company has a current ratio of 1.19, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The company has a market cap of $9.13 billion, a PE ratio of -262.00 and a beta of 1.73. The stock has a 50-day moving average price of $20.79 and a 200-day moving average price of $18.08.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.98 billion. TechnipFMC had a negative net margin of 0.46% and a positive return on equity of 3.70%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 EPS. As a group, equities analysts forecast that TechnipFMC plc will post 0.47 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 6th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.95%. TechnipFMC’s payout ratio is -250.00%.

TechnipFMC declared that its Board of Directors has authorized a share buyback plan on Wednesday, July 26th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the oil and gas company to repurchase up to 4.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

About TechnipFMC

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. 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.