American Century Companies Inc. Cuts Position in TechnipFMC plc $FTI

American Century Companies Inc. decreased its position in shares of TechnipFMC plc (NYSE:FTI) by 3.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,991,554 shares of the oil and gas company’s stock after selling 108,961 shares during the period. American Century Companies Inc. owned approximately 0.73% of TechnipFMC worth $103,029,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameriprise Financial Inc. raised its holdings in shares of TechnipFMC by 9.0% during the 1st quarter. Ameriprise Financial Inc. now owns 18,030,976 shares of the oil and gas company’s stock valued at $571,583,000 after buying an additional 1,492,746 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in TechnipFMC by 1.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,141,701 shares of the oil and gas company’s stock valued at $349,280,000 after acquiring an additional 189,637 shares during the last quarter. Boston Partners raised its stake in shares of TechnipFMC by 267.5% during the second quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock worth $333,041,000 after acquiring an additional 7,038,640 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of TechnipFMC by 111.4% in the 1st 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 last quarter. Finally, Invesco Ltd. boosted its stake in shares of TechnipFMC by 18.0% in the 1st quarter. Invesco Ltd. now owns 7,458,847 shares of the oil and gas company’s stock valued at $236,371,000 after purchasing an additional 1,136,554 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FTI. UBS Group reiterated an “outperform” rating on shares of TechnipFMC in a research report on Tuesday, October 28th. Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Citigroup increased their target price on TechnipFMC from $45.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. BNP Paribas Exane upgraded TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 price target on the stock in a research report on Friday, October 10th. Finally, Piper Sandler boosted their price objective on TechnipFMC from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, TechnipFMC currently has an average rating of “Moderate Buy” and an average price target of $45.36.

TechnipFMC Trading Up 1.0%

NYSE FTI opened at $45.00 on Wednesday. The stock has a market cap of $18.20 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $45.09. The stock has a 50 day simple moving average of $40.22 and a two-hundred day simple moving average of $36.61. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. On average, analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

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 $0.05 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $0.20 annualized dividend and a yield of 0.4%. TechnipFMC’s dividend payout ratio is 8.93%.

TechnipFMC declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 22nd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 13.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at TechnipFMC

In other news, CEO Douglas J. Pferdehirt sold 80,304 shares of TechnipFMC stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.35, for a total transaction of $3,079,658.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thierry Conti sold 50,000 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.64, for a total transaction of $1,932,000.00. Following the transaction, the insider owned 56,352 shares in the company, valued at $2,177,441.28. This represents a 47.01% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 876,603 shares of company stock valued at $33,832,588. Company insiders own 1.80% of the company’s stock.

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.