Bank of Montreal Can Grows Stock Holdings in TechnipFMC plc $FTI

Bank of Montreal Can raised its holdings in shares of TechnipFMC plc (NYSE:FTI) by 10.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,126 shares of the oil and gas company’s stock after purchasing an additional 2,557 shares during the quarter. Bank of Montreal Can’s holdings in TechnipFMC were worth $934,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FTI. AQR Capital Management LLC raised its position in shares of TechnipFMC by 111.4% during the 1st quarter. AQR Capital Management LLC now owns 8,735,697 shares of the oil and gas company’s stock valued at $273,078,000 after buying an additional 4,602,939 shares in the last quarter. Boston Partners increased its stake in TechnipFMC by 648.3% during the first quarter. Boston Partners now owns 2,630,793 shares of the oil and gas company’s stock worth $83,281,000 after acquiring an additional 2,279,247 shares during the last quarter. Nuveen LLC purchased a new stake in TechnipFMC during the first quarter valued at approximately $64,217,000. Encompass Capital Advisors LLC bought a new stake in shares of TechnipFMC in the 1st quarter valued at approximately $47,535,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of TechnipFMC by 9.0% in the 1st 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 period. 96.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other TechnipFMC news, insider Thierry Conti sold 50,000 shares of TechnipFMC stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $38.64, for a total transaction of $1,932,000.00. Following the completion of the sale, the insider directly owned 56,352 shares of the company’s stock, 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 SEC, which is available at this hyperlink. Also, CEO Douglas J. Pferdehirt sold 632,539 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $38.62, for a total value of $24,428,656.18. Following the transaction, the chief executive officer directly owned 2,917,054 shares in the company, valued at $112,656,625.48. The trade was a 17.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 876,603 shares of company stock worth $33,832,588 in the last ninety days. 1.80% of the stock is owned by company insiders.

TechnipFMC Trading Up 1.4%

NYSE FTI opened at $43.77 on Friday. The stock has a market cap of $17.70 billion, a PE ratio of 19.54, a PEG 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 $44.34. The company’s 50-day moving average price is $39.62 and its 200-day moving average price is $35.84. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.10. The company 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 firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. TechnipFMC has set its FY 2025 guidance at EPS. Equities research analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC announced that its board has approved a stock repurchase plan on Wednesday, October 22nd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the oil and gas company to buy up to 13.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

TechnipFMC Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on FTI. Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. BNP Paribas Exane raised shares of TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 target price on the stock in a research note on Friday, October 10th. Citigroup lifted their price target on shares of TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Barclays upped 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. Finally, UBS Group reissued an “outperform” rating on shares of TechnipFMC in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.36.

TechnipFMC Company 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.