100,047 Shares in TechnipFMC plc (NYSE:FTI) Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in TechnipFMC plc (NYSE:FTI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 100,047 shares of the oil and gas company’s stock, valued at approximately $2,624,000.

A number of other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new stake in TechnipFMC during the third quarter valued at $185,643,000. Westfield Capital Management Co. LP purchased a new stake in shares of TechnipFMC in the 3rd quarter valued at about $49,273,000. Jennison Associates LLC raised its holdings in shares of TechnipFMC by 95.0% in the 3rd quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock valued at $61,918,000 after acquiring an additional 1,150,049 shares in the last quarter. Anomaly Capital Management LP grew its holdings in shares of 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 worth $89,429,000 after purchasing an additional 1,144,087 shares in the last quarter. Finally, Hardman Johnston Global Advisors LLC increased its position in shares of TechnipFMC by 13.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after purchasing an additional 1,071,103 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FTI has been the subject of a number of research reports. Barclays boosted their price target on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Citigroup upped their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Susquehanna raised their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Tuesday, October 29th. Finally, Royal Bank of Canada started coverage on TechnipFMC in a report on Monday, November 18th. They set an “outperform” rating and a $37.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, TechnipFMC presently has a consensus rating of “Buy” and an average price target of $33.91.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $31.37 on Friday. 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 plc has a one year low of $18.33 and a one year high of $31.53. The business’s 50 day simple moving average is $27.61 and its two-hundred day simple moving average is $26.63. The stock has a market capitalization of $13.35 billion, a P/E ratio of 20.64 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 EPS. Analysts forecast that TechnipFMC plc will post 1.58 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. TechnipFMC’s payout ratio is presently 13.16%.

TechnipFMC announced that its board has authorized a stock repurchase program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in 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 often an indication that the company’s board believes its stock is undervalued.

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.