Segall Bryant & Hamill LLC Trims Stake in TechnipFMC plc (NYSE:FTI)

Segall Bryant & Hamill LLC reduced its stake in TechnipFMC plc (NYSE:FTI) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 578,911 shares of the oil and gas company’s stock after selling 23,647 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in TechnipFMC were worth $15,185,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Avior Wealth Management LLC boosted its stake in shares of TechnipFMC by 4,558.4% during the 3rd quarter. Avior Wealth Management LLC now owns 13,556 shares of the oil and gas company’s stock worth $356,000 after purchasing an additional 13,265 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in TechnipFMC by 12.6% during the third quarter. PNC Financial Services Group Inc. now owns 213,539 shares of the oil and gas company’s stock worth $5,601,000 after buying an additional 23,893 shares during the period. Pathstone Holdings LLC lifted its holdings in shares of TechnipFMC by 1.5% during the 3rd quarter. Pathstone Holdings LLC now owns 113,624 shares of the oil and gas company’s stock worth $2,980,000 after acquiring an additional 1,714 shares during the period. Mount Lucas Management LP grew its holdings in TechnipFMC by 2.6% in the third quarter. Mount Lucas Management LP now owns 43,612 shares of the oil and gas company’s stock valued at $1,144,000 after purchasing an additional 1,094 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in TechnipFMC by 24.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,536,710 shares of the oil and gas company’s stock valued at $40,306,000 after acquiring an additional 301,329 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $29.02 on Thursday. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $29.85. The company has a market cap of $12.35 billion, a PE ratio of 19.09 and a beta of 1.51. The stock has a 50 day simple moving average of $26.84 and a 200-day simple moving average of $26.42. 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 (NYSE:FTI) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities research analysts forecast that TechnipFMC plc will post 1.55 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Tuesday, November 19th. TechnipFMC’s dividend payout ratio (DPR) is presently 13.16%.

TechnipFMC announced that its board has approved a share buyback 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 reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

FTI has been the subject of several recent research reports. BMO Capital Markets increased their price objective 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. Susquehanna upped their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Tuesday, October 29th. TD Cowen raised their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Bank of America boosted their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $33.91.

TechnipFMC Company 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.