Skandinaviska Enskilda Banken AB publ Acquires New Position in TechnipFMC PLC (FTI)

Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of TechnipFMC PLC (NYSE:FTI) in the third quarter, HoldingsChannel.com reports. The fund acquired 72,135 shares of the oil and gas company’s stock, valued at approximately $2,254,000.

A number of other hedge funds and other institutional investors have also modified their holdings of FTI. Pinebridge Investments L.P. lifted its holdings in TechnipFMC by 270.1% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,775 shares of the oil and gas company’s stock worth $120,000 after buying an additional 2,755 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in TechnipFMC during the 2nd quarter worth approximately $143,000. Dai Ichi Life Insurance Company Ltd bought a new position in TechnipFMC during the 2nd quarter worth approximately $210,000. Putnam Investments LLC bought a new position in TechnipFMC during the 2nd quarter worth approximately $210,000. Finally, Chicago Equity Partners LLC bought a new position in TechnipFMC during the 2nd quarter worth approximately $239,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

A number of research firms have commented on FTI. BMO Capital Markets increased their target price on TechnipFMC from $34.00 to $35.00 and gave the stock a “market perform” rating in a report on Monday, July 30th. Barclays increased their target price on TechnipFMC from $32.00 to $35.00 and gave the stock a “hold” rating in a report on Thursday, August 2nd. Societe Generale raised TechnipFMC from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Wednesday, October 10th. JPMorgan Chase & Co. increased their target price on TechnipFMC from $36.00 to $39.00 and gave the stock an “overweight” rating in a report on Monday, September 17th. Finally, Cowen reaffirmed a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a report on Friday, October 12th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $37.00.

Shares of NYSE FTI opened at $24.26 on Friday. The company has a market capitalization of $11.17 billion, a P/E ratio of 22.37, a P/E/G ratio of 1.81 and a beta of 1.08. TechnipFMC PLC has a 12-month low of $23.51 and a 12-month high of $35.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 1.33.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Wednesday, October 24th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.07). The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.22 billion. TechnipFMC had a return on equity of 3.76% and a net margin of 1.42%. On average, research analysts forecast that TechnipFMC PLC will post 1.32 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 5th. Investors of record on Tuesday, November 20th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Monday, November 19th. TechnipFMC’s dividend payout ratio (DPR) is 20.16%.

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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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