Lisanti Capital Growth LLC Sells 128,980 Shares of TechnipFMC plc (NYSE:FTI)

Lisanti Capital Growth LLC decreased its stake in TechnipFMC plc (NYSE:FTI) by 76.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,965 shares of the oil and gas company’s stock after selling 128,980 shares during the period. Lisanti Capital Growth LLC’s holdings in TechnipFMC were worth $1,022,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FTI. Oak Thistle LLC grew its holdings in shares of TechnipFMC by 3.2% during the second quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company’s stock worth $358,000 after purchasing an additional 421 shares during the last quarter. Pallas Capital Advisors LLC raised its stake in shares of TechnipFMC by 5.1% during the second quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company’s stock valued at $246,000 after acquiring an additional 433 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 492 shares during the period. Ballentine Partners LLC grew its stake in shares of TechnipFMC by 4.8% in the third quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company’s stock worth $294,000 after purchasing an additional 515 shares during the last quarter. Finally, Creative Planning increased its holdings in TechnipFMC by 3.2% in the second quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock valued at $455,000 after purchasing an additional 546 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. TD Cowen increased their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. BMO Capital Markets boosted their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. Barclays increased their price objective on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $33.30.

TechnipFMC Stock Up 0.8 %

Shares of NYSE:FTI opened at $29.00 on Tuesday. The firm has a market cap of $12.34 billion, a P/E ratio of 19.08 and a beta of 1.51. TechnipFMC plc has a 52-week low of $18.33 and a 52-week high of $29.85. The business’s 50 day simple moving average is $26.26 and its two-hundred day simple moving average is $26.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14.

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, beating 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 business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm posted $0.21 EPS. TechnipFMC’s revenue was up 14.2% compared to the same quarter last year. As a group, research analysts forecast that TechnipFMC plc will post 1.47 EPS for the current fiscal 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 issued a $0.05 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. TechnipFMC’s dividend payout ratio is presently 13.16%.

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

TechnipFMC Profile

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.