Pacer Advisors Inc. Reduces Holdings in TechnipFMC plc (NYSE:FTI)

Pacer Advisors Inc. trimmed its holdings in shares of TechnipFMC plc (NYSE:FTI) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,440,261 shares of the oil and gas company’s stock after selling 637,241 shares during the quarter. Pacer Advisors Inc.’s holdings in TechnipFMC were worth $186,381,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FTI. Franklin Resources Inc. boosted its stake in shares of TechnipFMC by 23.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after acquiring an additional 679,748 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in TechnipFMC by 971.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock valued at $10,692,000 after purchasing an additional 369,594 shares in the last quarter. ING Groep NV grew its holdings in TechnipFMC by 15.3% during the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock valued at $22,697,000 after purchasing an additional 114,600 shares during the period. Westfield Capital Management Co. LP purchased a new stake in TechnipFMC in the third quarter worth about $49,273,000. Finally, Entropy Technologies LP bought a new position in shares of TechnipFMC in the third quarter worth about $575,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Trading Down 1.0 %

Shares of FTI stock opened at $31.40 on Monday. The stock’s 50-day moving average price is $30.71 and its 200-day moving average price is $28.12. TechnipFMC plc has a 12-month low of $18.53 and a 12-month high of $33.45. The stock has a market capitalization of $13.36 billion, a price-to-earnings ratio of 20.66 and a beta of 1.54. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. The business 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 was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS. Equities research analysts predict that TechnipFMC plc will post 1.62 EPS for the current fiscal year.

TechnipFMC announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FTI. Bank of America boosted their price objective on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research report on Friday, December 13th. They issued a “buy” rating and a $38.00 price target for the company. 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. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup increased their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. One investment 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 MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $36.15.

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.