Bridgewater Associates LP Sells 508,119 Shares of TechnipFMC plc (NYSE:FTI)

Bridgewater Associates LP decreased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 55.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 415,223 shares of the oil and gas company’s stock after selling 508,119 shares during the period. Bridgewater Associates LP owned approximately 0.10% of TechnipFMC worth $10,891,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in shares of TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 735 shares during the last quarter. GAMMA Investing LLC lifted its position in TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 492 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in TechnipFMC in the 3rd quarter worth approximately $30,000. ORG Partners LLC bought a new position in shares of TechnipFMC in the 2nd quarter worth $33,000. Finally, Crewe Advisors LLC purchased a new stake in shares of TechnipFMC during the 2nd quarter valued at $51,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FTI has been the topic of a number of research analyst reports. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Tuesday, October 29th. BMO Capital Markets raised their price objective on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. Bank of America upped their target price on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup increased their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $33.91.

TechnipFMC Trading Down 0.1 %

Shares of FTI opened at $31.01 on Friday. The stock has a market capitalization of $13.19 billion, a P/E ratio of 20.40 and a beta of 1.51. TechnipFMC plc has a twelve month low of $18.33 and a twelve month high of $31.53. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $27.44 and a two-hundred day simple moving average of $26.56.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the business posted $0.21 earnings per share. TechnipFMC’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, research analysts anticipate 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. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. TechnipFMC’s dividend payout ratio (DPR) is presently 13.16%.

TechnipFMC announced that its Board of Directors has approved a share 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 buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership 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.