Acadian Asset Management LLC Sells 190,597 Shares of TechnipFMC plc $FTI

Acadian Asset Management LLC trimmed its position in shares of TechnipFMC plc (NYSE:FTI) by 30.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 432,950 shares of the oil and gas company’s stock after selling 190,597 shares during the period. Acadian Asset Management LLC owned 0.11% of TechnipFMC worth $14,906,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FTI. AQR Capital Management LLC boosted its stake in shares of TechnipFMC by 111.4% in the first quarter. AQR Capital Management LLC now owns 8,735,697 shares of the oil and gas company’s stock worth $273,078,000 after acquiring an additional 4,602,939 shares during the period. Boston Partners boosted its holdings in shares of TechnipFMC by 648.3% during the 1st quarter. Boston Partners now owns 2,630,793 shares of the oil and gas company’s stock valued at $83,281,000 after purchasing an additional 2,279,247 shares during the last quarter. Nuveen LLC bought a new position in shares of TechnipFMC during the 1st quarter valued at about $64,217,000. Encompass Capital Advisors LLC purchased a new position in TechnipFMC during the 1st quarter valued at approximately $47,535,000. Finally, Ameriprise Financial Inc. increased its position in TechnipFMC by 9.0% in the first quarter. Ameriprise Financial Inc. now owns 18,030,976 shares of the oil and gas company’s stock worth $571,583,000 after purchasing an additional 1,492,746 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Insider Activity

In related news, insider Thierry Conti sold 50,000 shares of TechnipFMC stock in a transaction dated 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 owned 56,352 shares in the company, valued at $2,177,441.28. The trade was a 47.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alf Melin sold 113,760 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.61, for a total value of $4,392,273.60. Following the transaction, the chief financial officer owned 241,140 shares in the company, valued at $9,310,415.40. This represents a 32.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 876,603 shares of company stock valued at $33,832,588 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $43.60 on Wednesday. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $44.33. The business’s 50 day moving average price is $39.37 and its 200 day moving average price is $35.58. 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 firm has a market cap of $17.64 billion, a P/E ratio of 19.47, a P/E/G ratio of 1.20 and a beta of 1.00.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, beating the consensus estimate 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 net margin of 9.67% and a return on equity of 30.23%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 EPS. TechnipFMC has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC announced that its board has approved a share repurchase program on Wednesday, October 22nd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 13.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

TechnipFMC Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FTI shares. JPMorgan Chase & Co. boosted their price objective on TechnipFMC from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Royal Bank Of Canada boosted their target price on shares of TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Barclays boosted their price target on shares of TechnipFMC from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Zacks Research raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $45.36.

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.