Jacobs Levy Equity Management Inc. Buys 688,622 Shares of TechnipFMC plc (NYSE:FTI)

Jacobs Levy Equity Management Inc. grew its position in TechnipFMC plc (NYSE:FTI) by 68.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,694,759 shares of the oil and gas company’s stock after acquiring an additional 688,622 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in TechnipFMC were worth $44,454,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in TechnipFMC in the third quarter valued at about $311,000. True Wealth Design LLC acquired a new position in shares of TechnipFMC in the third quarter valued at approximately $57,000. Maverick Capital Ltd. raised its holdings in TechnipFMC by 7.5% in the 3rd quarter. Maverick Capital Ltd. now owns 64,139 shares of the oil and gas company’s stock valued at $1,682,000 after buying an additional 4,464 shares during the last quarter. Captrust Financial Advisors boosted its position in TechnipFMC by 11.7% during the 3rd quarter. Captrust Financial Advisors now owns 40,741 shares of the oil and gas company’s stock worth $1,069,000 after buying an additional 4,273 shares during the period. Finally, Capstone Investment Advisors LLC bought a new stake in TechnipFMC during the 3rd quarter worth approximately $250,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

FTI has been the subject of several analyst reports. BMO Capital Markets raised their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Barclays increased their price target on TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. StockNews.com raised 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 research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $33.91.

TechnipFMC Stock Up 0.7 %

TechnipFMC stock opened at $31.52 on Wednesday. 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 company has a market capitalization of $13.41 billion, a PE ratio of 20.74 and a beta of 1.54. The firm’s fifty day moving average is $27.69 and its 200 day moving average is $26.66. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $31.76.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share 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 analyst estimates of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. As a group, sell-side analysts predict that TechnipFMC plc will post 1.58 EPS for the current fiscal year.

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 issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. TechnipFMC’s dividend payout ratio is 13.16%.

TechnipFMC announced that its board has initiated a stock repurchase plan 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 reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

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.