TechnipFMC plc $FTI Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC reduced its stake in TechnipFMC plc by 15.2%, selling 111,638 shares and now holds approximately 623,547 shares worth $19.76 million.
• Analyst firm Barclays increased their target price for TechnipFMC from $45.00 to $51.00 while maintaining an "overweight" rating, reflecting positive outlooks from multiple analysts.
• TechnipFMC recently reported $0.68 earnings per share for the quarter, exceeding estimates, and announced a quarterly dividend of $0.05, resulting in a 0.5% dividend yield.

Acadian Asset Management LLC decreased its position in TechnipFMC plc (NYSE:FTI - Free Report) by 15.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 623,547 shares of the oil and gas company's stock after selling 111,638 shares during the quarter. Acadian Asset Management LLC owned about 0.15% of TechnipFMC worth $19,757,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its stake in TechnipFMC by 45.3% in 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 purchasing an additional 340 shares during the last quarter. Focus Partners Wealth raised its stake in TechnipFMC by 27.2% in the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company's stock valued at $764,000 after purchasing an additional 5,161 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in TechnipFMC by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,139,326 shares of the oil and gas company's stock valued at $36,105,000 after purchasing an additional 53,206 shares during the last quarter. Empowered Funds LLC acquired a new position in TechnipFMC in the 1st quarter valued at about $7,282,000. Finally, Great Lakes Advisors LLC raised its stake in TechnipFMC by 17.6% in the 1st quarter. Great Lakes Advisors LLC now owns 15,467 shares of the oil and gas company's stock valued at $490,000 after purchasing an additional 2,315 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Stock Performance

FTI stock traded up $0.07 during trading on Tuesday, hitting $39.09. 2,336,618 shares of the company's stock traded hands, compared to its average volume of 4,738,601. The stock has a market capitalization of $16.07 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.27 and a beta of 1.10. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $41.29. The stock has a fifty day moving average price of $36.11 and a two-hundred day moving average price of $32.06. The company has a quick ratio of 0.86, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

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

TechnipFMC Dividend Announcement

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

Insider Buying and Selling

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $37.12, for a total value of $348,222.72. Following the sale, the director directly owned 62,978 shares of the company's stock, valued at $2,337,743.36. This trade represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Royal Bank Of Canada upped their price objective on shares of TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Citigroup reiterated a "buy" rating and set a $41.00 target price (up previously from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Barclays upped their price target on TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Susquehanna upped their price target on TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Finally, BTIG Research cut TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, TechnipFMC has an average rating of "Moderate Buy" and a consensus target price of $38.92.

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.