Townsquare Capital LLC Sells 76,259 Shares of TechnipFMC plc (NYSE:FTI)

Townsquare Capital LLC reduced its position in shares of TechnipFMC plc (NYSE:FTI) by 26.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 215,817 shares of the oil and gas company’s stock after selling 76,259 shares during the quarter. Townsquare Capital LLC owned 0.05% of TechnipFMC worth $5,693,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FTI. Pacer Advisors Inc. bought a new stake in TechnipFMC during the 3rd quarter valued at about $185,643,000. Westfield Capital Management Co. LP bought a new stake in TechnipFMC during the 3rd quarter valued at about $49,273,000. Jennison Associates LLC increased its stake in TechnipFMC by 95.0% during 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 purchasing an additional 1,150,049 shares in the last quarter. Anomaly Capital Management LP increased its stake in TechnipFMC by 50.3% during the 2nd quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock valued at $89,429,000 after purchasing an additional 1,144,087 shares in the last quarter. Finally, Hardman Johnston Global Advisors LLC increased its stake in TechnipFMC by 13.5% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after purchasing an additional 1,071,103 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FTI shares. Susquehanna lifted their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research note on Friday, October 25th. TD Cowen reiterated a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a research note on Wednesday. BMO Capital Markets lifted their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. Royal Bank of Canada started coverage on shares of TechnipFMC in a research note on Monday, November 18th. They issued an “outperform” rating and a $37.00 price target for the company. Finally, Bank of America lifted their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $33.91.

TechnipFMC Stock Performance

NYSE:FTI opened at $31.01 on Friday. The stock has a 50-day moving average price of $27.44 and a 200 day moving average price of $26.56. 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 plc has a 12-month low of $18.33 and a 12-month high of $31.53. The stock has a market capitalization of $13.19 billion, a P/E ratio of 20.40 and a beta of 1.51.

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, beating the consensus estimate of $0.39 by $0.25. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 earnings per share. Equities research analysts forecast that TechnipFMC plc will post 1.58 EPS for the current fiscal year.

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

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. TechnipFMC’s payout ratio is 13.16%.

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.