72,135 Shares in TechnipFMC PLC (FTI) Acquired by Skandinaviska Enskilda Banken AB publ

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Skandinaviska Enskilda Banken AB publ bought a new position in shares of TechnipFMC PLC (NYSE:FTI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 72,135 shares of the oil and gas company’s stock, valued at approximately $2,254,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pinebridge Investments L.P. lifted its position in TechnipFMC by 270.1% during the second 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 period. Tower Research Capital LLC TRC purchased a new position in TechnipFMC during the second quarter worth about $143,000. Dai Ichi Life Insurance Company Ltd purchased a new position in TechnipFMC during the second quarter worth about $210,000. Putnam Investments LLC purchased a new position in TechnipFMC during the second quarter worth about $210,000. Finally, Chicago Equity Partners LLC purchased a new position in TechnipFMC during the second quarter worth about $239,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Shares of NYSE:FTI opened at $24.26 on Friday. The stock has a market cap of $11.17 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 1.81 and a beta of 1.08. 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 $23.51 and a 12 month high of $35.00.

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

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

Several equities analysts recently weighed in on FTI shares. Cowen reiterated a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a research report on Friday, October 12th. Societe Generale upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Wednesday, October 10th. Guggenheim restated a “buy” rating on shares of TechnipFMC in a research note on Thursday, November 8th. Royal Bank of Canada set a $32.00 price target on TechnipFMC and gave the stock a “buy” rating in a research note on Friday, October 26th. Finally, BMO Capital Markets upped their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a “market perform” rating in a research note on Monday, July 30th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $37.00.

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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.

Further Reading: Hedge Funds

Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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