155,765 Shares in TechnipFMC plc (NYSE:FTI) Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in shares of TechnipFMC plc (NYSE:FTI) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 155,765 shares of the oil and gas company’s stock, valued at approximately $4,086,000.

Other hedge funds also recently modified their holdings of the company. Hardman Johnston Global Advisors LLC raised its position in TechnipFMC by 13.5% during the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after buying an additional 1,071,103 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of TechnipFMC by 2.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock valued at $228,384,000 after purchasing an additional 204,435 shares during the period. State Street Corp lifted its position in shares of TechnipFMC by 1.7% in the third quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock worth $215,100,000 after purchasing an additional 133,775 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of TechnipFMC during the third quarter worth approximately $185,643,000. Finally, Anomaly Capital Management LP grew its position in TechnipFMC by 50.3% during the second quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock valued at $89,429,000 after purchasing an additional 1,144,087 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Up 0.4 %

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

TechnipFMC (NYSE:FTI) last issued its quarterly 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 company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 EPS. As a group, analysts forecast that TechnipFMC plc will post 1.61 earnings per share for the current year.

TechnipFMC declared that its board has approved a stock repurchase plan on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Tuesday, November 19th. TechnipFMC’s dividend payout ratio is currently 13.16%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and lifted their target price for the company from $29.00 to $40.00 in a research note on Friday, December 6th. The Goldman Sachs Group assumed coverage on TechnipFMC in a research report on Friday. They set a “buy” rating and a $38.00 price objective for the company. TD Cowen reaffirmed a “buy” rating and set a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Tuesday, October 29th. Finally, Susquehanna raised their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th. 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $34.69.

About TechnipFMC

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.