Bank of Montreal Can Has $6.48 Million Holdings in TechnipFMC PLC (FTI)

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Bank of Montreal Can boosted its holdings in TechnipFMC PLC (NYSE:FTI) by 56.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 207,297 shares of the oil and gas company’s stock after buying an additional 75,013 shares during the period. Bank of Montreal Can’s holdings in TechnipFMC were worth $6,479,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FTI. Boston Partners bought a new position in shares of TechnipFMC during the 2nd quarter valued at about $79,451,000. Jennison Associates LLC boosted its holdings in shares of TechnipFMC by 242.1% during the 2nd quarter. Jennison Associates LLC now owns 2,800,160 shares of the oil and gas company’s stock valued at $88,877,000 after purchasing an additional 1,981,616 shares during the last quarter. TCW Group Inc. boosted its holdings in shares of TechnipFMC by 95.8% during the 2nd quarter. TCW Group Inc. now owns 2,292,922 shares of the oil and gas company’s stock valued at $72,777,000 after purchasing an additional 1,121,599 shares during the last quarter. FMR LLC boosted its holdings in shares of TechnipFMC by 34.2% during the 2nd quarter. FMR LLC now owns 2,887,348 shares of the oil and gas company’s stock valued at $91,644,000 after purchasing an additional 735,340 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of TechnipFMC by 57.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,629,500 shares of the oil and gas company’s stock valued at $51,720,000 after purchasing an additional 597,700 shares during the last quarter. Institutional investors and hedge funds own 64.61% of the company’s stock.

Shares of NYSE:FTI opened at $26.16 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.31. TechnipFMC PLC has a 12 month low of $25.36 and a 12 month high of $35.00. The stock has a market capitalization of $12.29 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 2.07 and a beta of 0.87.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Wednesday, October 24th. The oil and gas company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.07). TechnipFMC had a net margin of 1.42% and a return on equity of 3.76%. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.22 billion. On average, sell-side analysts forecast that TechnipFMC PLC will post 1.33 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 5th. Shareholders of record on Tuesday, November 20th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Monday, November 19th. TechnipFMC’s payout ratio is currently 20.16%.

FTI has been the subject of several research reports. Morgan Stanley set a $39.00 price objective on shares of TechnipFMC and gave the company a “buy” rating in a report on Tuesday. Credit Suisse Group dropped their price objective on shares of TechnipFMC from $38.00 to $29.00 and set a “buy” rating for the company in a report on Monday. Piper Jaffray Companies reissued a “buy” rating on shares of TechnipFMC in a report on Monday. Royal Bank of Canada set a $32.00 price objective on shares of TechnipFMC and gave the company a “buy” rating in a report on Friday, October 26th. Finally, Cowen reaffirmed a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a report on Friday, October 12th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $36.21.

About TechnipFMC

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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