Assetmark Inc. Acquires 1,676 Shares of TechnipFMC plc $FTI

Assetmark Inc. grew its holdings in TechnipFMC plc (NYSE:FTI) by 14.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,584 shares of the oil and gas company’s stock after acquiring an additional 1,676 shares during the period. Assetmark Inc.’s holdings in TechnipFMC were worth $468,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FTI. New York State Teachers Retirement System acquired a new stake in shares of TechnipFMC in the 1st quarter valued at $33,000. Geneos Wealth Management Inc. raised its holdings in 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 buying an additional 340 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of TechnipFMC in the second quarter worth about $44,000. Financial Network Wealth Advisors LLC boosted its stake in shares of 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 worth $48,000 after acquiring an additional 346 shares in the last quarter. Finally, Brooklyn Investment Group increased its holdings in shares of 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 during the last quarter. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Up 0.9%

Shares of FTI opened at $42.78 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $39.11 and a two-hundred day moving average price of $35.22. The stock has a market cap of $17.30 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 1.20 and a beta of 1.00. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $43.09.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.10. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.TechnipFMC’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. TechnipFMC has set its FY 2025 guidance at EPS. Equities analysts predict that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC announced that its board has authorized a share buyback plan on Wednesday, October 22nd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the oil and gas company to repurchase up to 13.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Tuesday, November 18th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. TechnipFMC’s dividend payout ratio (DPR) is presently 8.93%.

Insider Activity

In other news, CFO Alf Melin sold 113,760 shares of TechnipFMC stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $38.61, for a total value of $4,392,273.60. Following the completion of the transaction, the chief financial officer owned 241,140 shares in the company, valued at approximately $9,310,415.40. The trade was a 32.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thierry Conti sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.64, for a total value of $1,932,000.00. Following the completion of the transaction, the insider directly owned 56,352 shares in the company, valued at $2,177,441.28. The trade was a 47.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 876,603 shares of company stock worth $33,832,588. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on FTI. Piper Sandler boosted their target price on TechnipFMC from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Jefferies Financial Group boosted their price objective on shares of TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday. Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Evercore ISI boosted their target price on shares of TechnipFMC from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Finally, BNP Paribas set a $47.00 price target on shares of TechnipFMC and gave the company an “outperform” rating in a report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $45.36.

About TechnipFMC

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.