Prudential Financial Inc. Has $13.83 Million Position in TechnipFMC PLC (FTI)

Prudential Financial Inc. reduced its holdings in TechnipFMC PLC (NYSE:FTI) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 442,577 shares of the oil and gas company’s stock after selling 4,900 shares during the period. Prudential Financial Inc. owned approximately 0.09% of TechnipFMC worth $13,831,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec increased its stake in TechnipFMC by 8.8% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,636,187 shares of the oil and gas company’s stock valued at $147,153,000 after purchasing an additional 374,400 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in TechnipFMC by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,418,208 shares of the oil and gas company’s stock valued at $108,489,000 after purchasing an additional 41,304 shares in the last quarter. Legal & General Group Plc increased its stake in TechnipFMC by 13.4% in the second quarter. Legal & General Group Plc now owns 3,332,444 shares of the oil and gas company’s stock valued at $90,527,000 after purchasing an additional 393,938 shares in the last quarter. FMR LLC increased its stake in TechnipFMC by 34.2% in the second 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 in the last quarter. Finally, Jennison Associates LLC increased its stake in TechnipFMC by 242.1% in the second 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 in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Shares of FTI stock opened at $23.09 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.31. TechnipFMC PLC has a 12-month low of $22.39 and a 12-month high of $35.00. The firm has a market cap of $10.77 billion, a PE ratio of 21.58, a P/E/G ratio of 1.52 and a beta of 1.08.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.07). TechnipFMC had a return on equity of 3.76% and a net margin of 1.42%. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.22 billion. On average, research analysts anticipate that TechnipFMC PLC will post 1.31 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 5th. Stockholders of record on Tuesday, November 20th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Monday, November 19th. TechnipFMC’s dividend payout ratio is 10.08%.

Several equities research analysts have commented on the stock. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Thursday, August 16th. Barclays lowered their target price on shares of TechnipFMC from $35.00 to $33.00 and set a “hold” rating for the company in a research note on Tuesday, October 30th. Royal Bank of Canada set a $32.00 target price on shares of TechnipFMC and gave the company a “buy” rating in a research note on Friday, October 26th. Credit Suisse Group lowered their target price on shares of TechnipFMC from $38.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of TechnipFMC in a research note on Monday, October 29th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $37.33.

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TechnipFMC 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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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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