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

Public Employees Retirement System of Ohio bought a new stake in TechnipFMC plc (NYSE:FTI) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 155,765 shares of the oil and gas company’s stock, valued at approximately $4,086,000.

Several other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in shares of TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 735 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of TechnipFMC during the third quarter valued at $30,000. GAMMA Investing LLC grew its position in shares of TechnipFMC by 59.5% during the third quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 693 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of TechnipFMC during the second quarter worth about $51,000. Finally, Toth Financial Advisory Corp increased its holdings in shares of TechnipFMC by 1,900.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock worth $52,000 after acquiring an additional 1,900 shares during the period. 96.58% of the stock is owned by institutional investors.

TechnipFMC Stock Performance

Shares of FTI opened at $31.00 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The firm’s 50 day moving average is $28.45 and its 200-day moving average is $26.97. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $32.64. The stock has a market capitalization of $13.19 billion, a P/E ratio of 20.39 and a beta of 1.54.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the business posted $0.21 earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. Equities research analysts anticipate that TechnipFMC plc will post 1.61 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently announced 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 (DPR) is presently 13.16%.

TechnipFMC declared that its Board of Directors has authorized a share buyback program on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

FTI has been the subject of a number of analyst reports. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Susquehanna boosted their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research report on Friday, October 25th. Barclays raised their target price on TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. The Goldman Sachs Group started coverage on TechnipFMC in a research report on Friday. They set a “buy” rating and a $38.00 price target for the company. Finally, Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and raised their price target for the company from $29.00 to $40.00 in a report on Friday, December 6th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, TechnipFMC has an average rating of “Buy” and an average 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.