TechnipFMC plc $FTI Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC lifted its holdings in shares of TechnipFMC plc (NYSE:FTI) by 13.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,938,410 shares of the oil and gas company’s stock after buying an additional 1,202,713 shares during the period. AQR Capital Management LLC owned approximately 2.42% of TechnipFMC worth $342,279,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its stake in TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 340 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of TechnipFMC during the second quarter valued at $44,000. Ossiam raised its stake in shares of TechnipFMC by 52.0% during the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 546 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in TechnipFMC by 82.5% in the second quarter. New York State Teachers Retirement System now owns 1,927 shares of the oil and gas company’s stock worth $66,000 after purchasing an additional 871 shares during the period. Finally, Brooklyn Investment Group lifted its holdings in TechnipFMC by 2,216.1% in the first quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 2,061 shares during the period. 96.58% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Douglas J. Pferdehirt sold 80,304 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $38.35, for a total value of $3,079,658.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thierry Conti sold 50,000 shares of TechnipFMC stock in a transaction that occurred 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 transaction, the insider owned 56,352 shares in the company, valued at approximately $2,177,441.28. The trade was a 47.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 876,603 shares of company stock worth $33,832,588 over the last 90 days. 1.80% of the stock is owned by company insiders.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $46.28 on Friday. The stock’s fifty day simple moving average is $41.89 and its 200 day simple moving average is $37.90. The stock has a market capitalization of $18.72 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.10 and a beta of 0.68. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $47.33.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The business had revenue of $2.65 billion during 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% on a year-over-year basis. During the same quarter last year, the company posted $0.64 EPS. As a group, sell-side analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC announced that its Board of Directors has approved a stock buyback program 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Tuesday, November 18th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, November 18th. TechnipFMC’s dividend payout ratio (DPR) is 8.93%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Barclays upped their target price on TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Piper Sandler boosted their price objective on TechnipFMC from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $46.67.

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.