TechnipFMC plc $FTI Shares Acquired by Allworth Financial LP

Allworth Financial LP increased its position in shares of TechnipFMC plc (NYSE:FTI) by 91.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,823 shares of the oil and gas company’s stock after acquiring an additional 2,305 shares during the quarter. Allworth Financial LP’s holdings in TechnipFMC were worth $166,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC raised its stake in TechnipFMC by 111.4% during 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 purchasing an additional 4,602,939 shares during the period. Boston Partners increased 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 worth $83,281,000 after buying an additional 2,279,247 shares during the last quarter. Nuveen LLC purchased a new stake in shares of TechnipFMC during the 1st quarter valued at approximately $64,217,000. Encompass Capital Advisors LLC acquired a new position in TechnipFMC in the first quarter valued at approximately $47,535,000. Finally, Ameriprise Financial Inc. grew 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 acquiring an additional 1,492,746 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling

In other news, insider Thierry Conti sold 50,000 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $38.64, for a total value of $1,932,000.00. Following the sale, the insider directly owned 56,352 shares in the company, valued at approximately $2,177,441.28. This trade represents a 47.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Pferdehirt sold 632,539 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $38.62, for a total transaction of $24,428,656.18. Following the transaction, the chief executive officer owned 2,917,054 shares of the company’s stock, valued at approximately $112,656,625.48. The trade was a 17.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 876,603 shares of company stock worth $33,832,588 over the last 90 days. 1.80% of the stock is owned by insiders.

TechnipFMC Trading Up 2.5%

FTI opened at $43.79 on Wednesday. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $44.33. The stock has a market capitalization of $17.72 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 1.20 and a beta of 1.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. The business has a fifty day moving average price of $39.77 and a 200 day moving average price of $36.09.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.TechnipFMC’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. TechnipFMC has set its FY 2025 guidance at EPS. Sell-side analysts expect that TechnipFMC plc will post 1.63 earnings per share 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 repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 13.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors 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 annualized dividend and a yield of 0.5%. TechnipFMC’s dividend payout ratio (DPR) is 8.93%.

Analyst Upgrades and Downgrades

FTI has been the topic of a number of research analyst reports. Royal Bank Of Canada lifted their target price on TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Weiss Ratings restated a “buy (b)” rating on shares of TechnipFMC in a report on Wednesday, October 8th. Jefferies Financial Group increased their target price on shares of TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Piper Sandler lifted their price target on shares of TechnipFMC from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. Finally, Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate 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.