Janus Henderson Group PLC Grows Stake in TechnipFMC PLC (FTI)
Janus Henderson Group PLC lifted its stake in TechnipFMC PLC (NYSE:FTI) by 113.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 829,612 shares of the oil and gas company’s stock after purchasing an additional 441,623 shares during the period. Janus Henderson Group PLC owned approximately 0.18% of TechnipFMC worth $25,973,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Pinebridge Investments L.P. increased its holdings in TechnipFMC by 270.1% in the second quarter. Pinebridge Investments L.P. now owns 3,775 shares of the oil and gas company’s stock worth $120,000 after buying an additional 2,755 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in TechnipFMC in the second quarter worth approximately $143,000. Dai Ichi Life Insurance Company Ltd acquired a new position in TechnipFMC in the second quarter worth approximately $210,000. Putnam Investments LLC acquired a new position in TechnipFMC in the second quarter worth approximately $210,000. Finally, Chicago Equity Partners LLC acquired a new position in TechnipFMC in the second quarter worth approximately $239,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.
FTI has been the topic of a number of research reports. HSBC upgraded TechnipFMC from a “reduce” rating to a “hold” rating in a report on Monday, November 26th. BMO Capital Markets restated a “hold” rating on shares of TechnipFMC in a report on Tuesday, November 6th. ValuEngine downgraded TechnipFMC from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. JPMorgan Chase & Co. upped their target price on TechnipFMC from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Monday, September 17th. Finally, Bank of America reaffirmed an “underperform” rating on shares of TechnipFMC in a research report on Tuesday, November 20th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $36.24.
TechnipFMC (NYSE:FTI) last announced its earnings results on Wednesday, October 24th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.07). The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.22 billion. TechnipFMC had a net margin of 1.42% and a return on equity of 3.76%. Equities analysts anticipate that TechnipFMC PLC will post 1.31 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 5th. Investors of record on Tuesday, November 20th were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, November 19th. This represents a $0.52 annualized dividend and a yield of 2.21%. TechnipFMC’s dividend payout ratio (DPR) is presently 10.08%.
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TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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