Kesler Norman & Wride LLC Lowers Stock Position in TechnipFMC plc $FTI

Kesler Norman & Wride LLC cut its position in shares of TechnipFMC plc (NYSE:FTI) by 33.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,023 shares of the oil and gas company’s stock after selling 11,813 shares during the quarter. Kesler Norman & Wride LLC’s holdings in TechnipFMC were worth $908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Diversified Trust Co boosted its position in TechnipFMC by 0.8% in the second quarter. Diversified Trust Co now owns 40,830 shares of the oil and gas company’s stock worth $1,406,000 after purchasing an additional 306 shares during the last quarter. Geneos Wealth Management Inc. grew its position in TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 340 shares during the period. Gries Financial LLC increased its holdings in TechnipFMC by 6.2% during the third quarter. Gries Financial LLC now owns 6,745 shares of the oil and gas company’s stock worth $266,000 after buying an additional 391 shares during the last quarter. SG Americas Securities LLC raised its position in TechnipFMC by 2.9% in the third quarter. SG Americas Securities LLC now owns 14,508 shares of the oil and gas company’s stock worth $572,000 after acquiring an additional 408 shares during the period. Finally, Quadcap Wealth Management LLC grew its position in shares of TechnipFMC by 3.3% during the 2nd quarter. Quadcap Wealth Management LLC now owns 16,256 shares of the oil and gas company’s stock valued at $560,000 after acquiring an additional 521 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FTI shares. BNP Paribas set a $47.00 price target on shares of TechnipFMC and gave the stock an “outperform” rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a research report on Wednesday, October 8th. Citigroup increased their price target on TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Barclays increased their target price on shares of TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.46.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $50.06 on Friday. The stock’s 50-day simple moving average is $45.01 and its two-hundred day simple moving average is $39.69. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $20.25 billion, a P/E ratio of 22.35, a P/E/G ratio of 0.97 and a beta of 0.66. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $50.44.

TechnipFMC (NYSE:FTI) last announced its 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 in the previous year, the business earned $0.64 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC announced that its Board of Directors has authorized a share buyback program on Wednesday, October 22nd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the oil and gas company to purchase up to 13.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Tuesday, November 18th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $0.20 annualized dividend and a yield of 0.4%. TechnipFMC’s dividend 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.