Massachusetts Financial Services Co. MA Boosts Holdings in TechnipFMC plc $FTI

Massachusetts Financial Services Co. MA lifted its position in shares of TechnipFMC plc (NYSE:FTI) by 2.3% during the third quarter, HoldingsChannel reports. The firm owned 10,374,192 shares of the oil and gas company’s stock after purchasing an additional 232,491 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in TechnipFMC were worth $409,262,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in TechnipFMC by 5,475.0% during the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after buying an additional 657 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 340 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of TechnipFMC during the second quarter valued at about $44,000. McIlrath & Eck LLC increased its position in shares of TechnipFMC by 476.3% during the third quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,024 shares during the last quarter. Finally, Ossiam lifted its stake in shares of TechnipFMC by 52.0% in the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 546 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Cowen restated a “buy” rating on shares of TechnipFMC in a research note on Wednesday, January 7th. TD Cowen raised their price target on shares of TechnipFMC from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. UBS Group restated an “outperform” rating on shares of TechnipFMC in a research note on Tuesday, October 28th. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Finally, Piper Sandler boosted their target price on shares of TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.46.

TechnipFMC Stock Performance

Shares of FTI opened at $52.17 on Monday. The stock has a market capitalization of $21.10 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 1.01 and a beta of 0.66. The business’s fifty day moving average price is $45.92 and its 200 day moving average price is $40.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $52.76.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.10. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities research analysts forecast that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Tuesday, November 18th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.4%. TechnipFMC’s dividend payout ratio (DPR) is currently 8.93%.

TechnipFMC announced that its Board of Directors has authorized a share repurchase program on Wednesday, October 22nd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 13.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

TechnipFMC Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.