Virginia Retirement Systems ET AL lessened its holdings in shares of TechnipFMC PLC (NYSE:FTI) by 80.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 61,400 shares of the oil and gas company’s stock after selling 259,200 shares during the period. Virginia Retirement Systems ET AL’s holdings in TechnipFMC were worth $1,919,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Gateway Investment Advisers LLC purchased a new position in shares of TechnipFMC in the 2nd quarter valued at approximately $600,000. Bank of Montreal Can purchased a new position in shares of TechnipFMC in the 2nd quarter valued at approximately $4,199,000. Scout Investments Inc. raised its position in shares of TechnipFMC by 38.2% in the 2nd quarter. Scout Investments Inc. now owns 555,795 shares of the oil and gas company’s stock valued at $17,641,000 after purchasing an additional 153,543 shares during the last quarter. Howard Capital Management Inc. purchased a new position in shares of TechnipFMC in the 2nd quarter valued at approximately $10,588,000. Finally, Essex Investment Management Co. LLC raised its position in shares of TechnipFMC by 153.9% in the 2nd quarter. Essex Investment Management Co. LLC now owns 46,061 shares of the oil and gas company’s stock valued at $1,462,000 after purchasing an additional 27,919 shares during the last quarter. 64.83% of the stock is owned by institutional investors and hedge funds.
FTI opened at $23.53 on Wednesday. TechnipFMC PLC has a 12-month low of $23.51 and a 12-month high of $35.00. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.31. The company has a market cap of $11.56 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 5th. Shareholders of record on Tuesday, November 20th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Monday, November 19th. TechnipFMC’s dividend payout ratio is presently 20.16%.
FTI has been the subject of several research analyst reports. Cowen reaffirmed a “buy” rating and issued a $37.00 price objective on shares of TechnipFMC in a research report on Friday, October 12th. Societe Generale raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Wednesday, October 10th. Guggenheim reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Thursday, November 8th. Royal Bank of Canada set a $32.00 price objective on shares of TechnipFMC and gave the company a “buy” rating in a research report on Friday, October 26th. Finally, BMO Capital Markets increased their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “market perform” rating in a research report on Monday, July 30th. Four analysts have rated the stock with a sell rating, three have given a hold rating and eighteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $36.21.
TechnipFMC Company Profile
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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