Kesler Norman & Wride LLC Decreases Position in TechnipFMC plc $FTI

Kesler Norman & Wride LLC trimmed its holdings in shares of TechnipFMC plc (NYSE:FTI) by 33.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,023 shares of the oil and gas company’s stock after selling 11,813 shares during the period. Kesler Norman & Wride LLC’s holdings in TechnipFMC were worth $908,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its position in TechnipFMC by 1.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,141,701 shares of the oil and gas company’s stock worth $349,280,000 after acquiring an additional 189,637 shares during the last quarter. AQR Capital Management LLC lifted its position in TechnipFMC by 13.8% in the second quarter. AQR Capital Management LLC now owns 9,938,410 shares of the oil and gas company’s stock valued at $342,279,000 after purchasing an additional 1,202,713 shares during the last quarter. Boston Partners grew its holdings in shares of TechnipFMC by 267.5% in the second quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock worth $333,041,000 after purchasing an additional 7,038,640 shares during the last quarter. Norges Bank bought a new position in shares of TechnipFMC in the second quarter worth approximately $151,413,000. Finally, Pacer Advisors Inc. increased its stake in shares of TechnipFMC by 91.5% in the third quarter. Pacer Advisors Inc. now owns 3,837,314 shares of the oil and gas company’s stock worth $151,382,000 after buying an additional 1,833,601 shares during the period. Institutional investors own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FTI. BNP Paribas set a $47.00 price target on shares of TechnipFMC and gave the company an “outperform” rating in a research report on Friday, October 10th. BNP Paribas Exane raised shares of TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 price objective for the company in a research note on Friday, October 10th. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. JPMorgan Chase & Co. boosted their price target on TechnipFMC from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Finally, UBS Group reiterated an “outperform” rating on shares of TechnipFMC in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.46.

TechnipFMC Price Performance

FTI opened at $50.06 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The company has a market cap of $20.25 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 0.97 and a beta of 0.66. The stock has a fifty day simple moving average of $45.01 and a two-hundred day simple moving average of $39.69. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $50.44.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.10. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the business earned $0.64 EPS. TechnipFMC’s quarterly revenue was up 12.7% compared to the same quarter last year. Research analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC announced that its board has approved a stock buyback program on Wednesday, October 22nd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 13.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Tuesday, November 18th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, November 18th. TechnipFMC’s payout ratio is currently 8.93%.

TechnipFMC Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.