TechnipFMC plc $FTI Shares Sold by Royal Bank of Canada

Royal Bank of Canada lowered its stake in shares of TechnipFMC plc (NYSE:FTI) by 14.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 538,059 shares of the oil and gas company’s stock after selling 89,224 shares during the quarter. Royal Bank of Canada owned approximately 0.13% of TechnipFMC worth $17,052,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New York State Teachers Retirement System acquired a new position in TechnipFMC during the 1st quarter valued at approximately $33,000. Financial Network Wealth Advisors LLC raised its stake in TechnipFMC by 29.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company’s stock valued at $48,000 after acquiring an additional 346 shares in the last quarter. Brooklyn Investment Group raised its stake in TechnipFMC by 2,216.1% during the 1st quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company’s stock valued at $68,000 after acquiring an additional 2,061 shares in the last quarter. GAMMA Investing LLC raised its stake in TechnipFMC by 27.0% during the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company’s stock valued at $91,000 after acquiring an additional 614 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in TechnipFMC by 346.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company’s stock valued at $92,000 after acquiring an additional 2,219 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Activity

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of TechnipFMC stock in a transaction on Friday, July 25th. The stock was sold at an average price of $37.12, for a total value of $348,222.72. Following the transaction, the director directly owned 62,978 shares in the company, valued at $2,337,743.36. The trade was a 12.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is owned by insiders.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $39.67 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $16.31 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 1.26 and a beta of 1.10. The stock’s fifty day simple moving average is $35.69 and its 200 day simple moving average is $31.71. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $39.97.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.11. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.49 billion. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%.The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 EPS. TechnipFMC has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Tuesday, August 19th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, August 19th. TechnipFMC’s payout ratio is presently 9.43%.

Analyst Upgrades and Downgrades

FTI has been the topic of several recent analyst reports. Susquehanna lifted their target price on TechnipFMC from $40.00 to $45.00 and gave the company a “positive” rating in a research note on Friday, July 25th. Evercore ISI lifted their target price on TechnipFMC from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Barclays lifted their target price on TechnipFMC from $45.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Citigroup reissued a “buy” rating and issued a $41.00 price objective (up previously from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Finally, Royal Bank Of Canada boosted their price objective on TechnipFMC from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, TechnipFMC presently has a consensus rating of “Moderate Buy” and an average price target of $38.92.

TechnipFMC Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.