VIRGINIA RETIREMENT SYSTEMS ET Al Sells 12,200 Shares of TechnipFMC plc $FTI

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its holdings in TechnipFMC plc (NYSE:FTI) by 21.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 45,129 shares of the oil and gas company’s stock after selling 12,200 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in TechnipFMC were worth $1,780,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of TechnipFMC by 5,475.0% in the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 657 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after buying an additional 340 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of TechnipFMC in the 2nd quarter valued at about $44,000. Ossiam grew its position in shares of TechnipFMC by 52.0% in the 2nd quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 546 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of TechnipFMC by 82.5% in the second quarter. New York State Teachers Retirement System now owns 1,927 shares of the oil and gas company’s stock valued at $66,000 after buying an additional 871 shares during the period. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

NYSE:FTI opened at $47.31 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $47.36. The company has a fifty day moving average of $44.21 and a 200-day moving average of $39.20. The firm has a market capitalization of $19.14 billion, a P/E ratio of 21.12, a P/E/G ratio of 0.87 and a beta of 0.68.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.10. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. TechnipFMC’s revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC announced that its Board of Directors has approved a share buyback plan on Wednesday, October 22nd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 13.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, November 18th. TechnipFMC’s dividend payout ratio is 8.93%.

Analysts Set New Price Targets

Several analysts recently commented on FTI shares. JPMorgan Chase & Co. upped their target price on TechnipFMC from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Piper Sandler boosted their price target on shares of TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. BNP Paribas set a $47.00 price objective on shares of TechnipFMC and gave the company an “outperform” rating in a research note on Friday, October 10th. Jefferies Financial Group increased their price objective on shares of TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, TechnipFMC currently has a consensus rating of “Moderate Buy” and an average price target of $46.92.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.