TechnipFMC plc $FTI Holdings Lowered by Kopion Asset Management LLC

Kopion Asset Management LLC reduced its position in TechnipFMC plc (NYSE:FTI) by 10.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,165 shares of the oil and gas company’s stock after selling 32,348 shares during the period. TechnipFMC comprises 7.4% of Kopion Asset Management LLC’s investment portfolio, making the stock its 4th biggest position. Kopion Asset Management LLC owned approximately 0.07% of TechnipFMC worth $11,408,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. grew its holdings in TechnipFMC by 26.2% in the first quarter. Raymond James Financial Inc. now owns 399,126 shares of the oil and gas company’s stock valued at $12,648,000 after purchasing an additional 82,902 shares during the last quarter. Hsbc Holdings PLC grew its stake in TechnipFMC by 3.6% in the 1st quarter. Hsbc Holdings PLC now owns 242,461 shares of the oil and gas company’s stock valued at $7,633,000 after acquiring an additional 8,455 shares during the last quarter. Compound Planning Inc. increased its holdings in TechnipFMC by 10.4% during the 1st quarter. Compound Planning Inc. now owns 8,724 shares of the oil and gas company’s stock valued at $276,000 after acquiring an additional 821 shares in the last quarter. SVB Wealth LLC purchased a new position in TechnipFMC during the 1st quarter valued at about $102,000. Finally, Quantitative Investment Management LLC acquired a new position in TechnipFMC during the first quarter worth about $621,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Price Performance

FTI stock opened at $44.98 on Tuesday. The stock has a market capitalization of $18.19 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 1.06 and a beta of 0.68. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $47.33. The stock’s fifty day simple moving average is $42.79 and its 200-day simple moving average is $38.56.

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

TechnipFMC declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 22nd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 13.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

TechnipFMC Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently commented 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. Barclays increased their target price on TechnipFMC from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Jefferies Financial Group raised their price target on TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. upped their price objective on TechnipFMC from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Finally, Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, TechnipFMC currently has an average rating of “Moderate Buy” and an average price target of $46.92.

TechnipFMC Company 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.