Acadian Asset Management LLC Cuts Stock Position in TechnipFMC plc $FTI

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 shares of TechnipFMC plc (NYSE:FTI - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. 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 SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. New York State Teachers Retirement System bought a new stake in shares of TechnipFMC during the first quarter valued at approximately $33,000. Geneos Wealth Management Inc. lifted its stake in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock valued at $35,000 after buying an additional 340 shares in the last quarter. Financial Network Wealth Advisors LLC grew its holdings in shares of TechnipFMC by 29.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company's stock valued at $48,000 after buying an additional 346 shares during the last quarter. Brooklyn Investment Group increased its position in shares of TechnipFMC by 2,216.1% during the first quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company's stock worth $68,000 after acquiring an additional 2,061 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of TechnipFMC by 27.0% in the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock worth $91,000 after acquiring an additional 614 shares during the last quarter. Institutional investors own 96.58% of the company's stock.

Insider Activity at TechnipFMC

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the company's 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 represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on FTI. BTIG Research downgraded TechnipFMC from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Citigroup restated a "buy" rating and set a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Royal Bank Of Canada upped their price objective on TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, Sanford C. Bernstein cut TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a research report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, TechnipFMC has a consensus rating of "Moderate Buy" and an average price target of $38.92.

TechnipFMC Trading Down 0.1%

NYSE:FTI traded down $0.03 during trading hours on Wednesday, reaching $38.98. The company's stock had a trading volume of 888,042 shares, compared to its average volume of 4,731,832. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $41.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.10. The firm has a 50-day simple moving average of $36.18 and a 200-day simple moving average of $32.10. The firm has a market capitalization of $16.02 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.25 and a beta of 1.10.

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

TechnipFMC Dividend Announcement

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

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.