111 Capital Takes $246,000 Position in TechnipFMC plc $FTI

Key Points

• 111 Capital acquired a new stake in TechnipFMC plc worth approximately $246,000, purchasing 7,131 shares during the second quarter.
• Several hedge funds increased their positions significantly, with AQR Capital Management boosting its holdings by 111.4%, now owning nearly $273 million worth of shares.
• Analyst ratings have been positive, with Barclays raising the price target from $45.00 to $51.00 and a consensus rating of "Moderate Buy" among various analysts.

111 Capital bought a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,131 shares of the oil and gas company's stock, valued at approximately $246,000.

Several other hedge funds have also recently made changes to their positions in FTI. AQR Capital Management LLC lifted 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 acquiring an additional 4,602,939 shares during the period. Boston Partners lifted its position in shares of TechnipFMC by 648.3% during the first 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 in the last quarter. Nuveen LLC purchased a new position in shares of TechnipFMC in the 1st quarter worth approximately $64,217,000. Encompass Capital Advisors LLC purchased a new position in TechnipFMC in the first quarter worth $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 buying an additional 1,492,746 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

FTI has been the topic of several research reports. Barclays lifted their price objective on shares of TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Susquehanna upped their price objective on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday. Weiss Ratings reiterated a "buy (b)" rating on shares of TechnipFMC in a research note on Saturday, September 27th. Finally, JPMorgan Chase & Co. lifted their price objective on TechnipFMC from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $39.21.

TechnipFMC Price Performance

TechnipFMC stock opened at $38.00 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86. TechnipFMC plc has a one year low of $22.11 and a one year high of $41.29. The firm has a market capitalization of $15.62 billion, a P/E ratio of 17.92, a PEG ratio of 1.22 and a beta of 1.04. The business has a fifty day moving average price of $37.54 and a 200-day moving average price of $33.31.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.11. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%.The business had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter in the prior year, the firm posted $0.43 EPS. The firm's quarterly revenue was up 9.0% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Tuesday, August 19th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $0.20 annualized dividend and a yield of 0.5%. TechnipFMC's payout ratio is currently 9.43%.

Insider Activity

In other news, CFO Alf Melin sold 113,760 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $38.61, for a total transaction of $4,392,273.60. Following the completion of the transaction, the chief financial officer directly owned 241,140 shares in the company, valued at $9,310,415.40. The trade was a 32.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Pferdehirt sold 80,304 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $38.35, for a total value of $3,079,658.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 885,984 shares of company stock worth $34,180,811. Insiders own 1.80% of the company's stock.

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.

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