TechnipFMC PLC (FTI) Stake Raised by SG Americas Securities LLC
SG Americas Securities LLC grew its position in TechnipFMC PLC (NYSE:FTI) by 598.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 154,192 shares of the oil and gas company’s stock after purchasing an additional 132,114 shares during the period. SG Americas Securities LLC’s holdings in TechnipFMC were worth $4,818,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of FTI. Pinebridge Investments L.P. boosted its stake in shares of TechnipFMC by 270.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,775 shares of the oil and gas company’s stock valued at $120,000 after purchasing an additional 2,755 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of TechnipFMC in the second quarter valued at about $143,000. Dai Ichi Life Insurance Company Ltd bought a new position in shares of TechnipFMC in the second quarter valued at about $210,000. Putnam Investments LLC bought a new position in shares of TechnipFMC in the second quarter valued at about $210,000. Finally, Chicago Equity Partners LLC bought a new position in shares of TechnipFMC in the second quarter valued at about $239,000. Institutional investors own 64.10% of the company’s stock.
A number of research firms recently issued reports on FTI. Guggenheim reaffirmed a “buy” rating on shares of TechnipFMC in a report on Thursday, November 8th. BMO Capital Markets reaffirmed a “hold” rating on shares of TechnipFMC in a report on Tuesday, November 6th. ValuEngine cut TechnipFMC from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Morgan Stanley cut their price target on TechnipFMC from $46.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, October 30th. Finally, Barclays cut their price target on TechnipFMC from $35.00 to $33.00 and set a “hold” rating for the company in a report on Tuesday, October 30th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $37.00.
TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.07). The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.22 billion. TechnipFMC had a return on equity of 3.76% and a net margin of 1.42%. As a group, sell-side analysts expect that TechnipFMC PLC will post 1.32 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 5th. Shareholders of record on Tuesday, November 20th will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, November 19th. This represents a $0.52 annualized dividend and a yield of 2.14%. TechnipFMC’s dividend payout ratio is currently 20.16%.
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TechnipFMC Company Profile
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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