Algert Global LLC Buys 19,053 Shares of TechnipFMC plc $FTI

Key Points

• Algert Global LLC increased its stake in TechnipFMC plc by 2.5%, purchasing 19,053 shares and now holds approximately 776,909 shares valued at $24.62 million.
• TechnipFMC reported better-than-expected quarterly earnings with an EPS of $0.68, surpassing analysts' estimates and achieving revenues of $2.53 billion.
• The company announced a quarterly dividend of $0.05 per share, representing an annual yield of 0.6%, with the ex-dividend date set for August 19.

Algert Global LLC grew its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 2.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 776,909 shares of the oil and gas company's stock after purchasing an additional 19,053 shares during the period. TechnipFMC makes up about 0.6% of Algert Global LLC's holdings, making the stock its 4th largest holding. Algert Global LLC owned about 0.19% of TechnipFMC worth $24,620,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. lifted its stake in TechnipFMC by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company's stock worth $1,220,288,000 after purchasing an additional 365,527 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of TechnipFMC by 31.5% in the fourth quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock valued at $478,620,000 after acquiring an additional 3,962,315 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of TechnipFMC by 2.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,952,064 shares of the oil and gas company's stock valued at $315,381,000 after acquiring an additional 202,599 shares in the last quarter. Invesco Ltd. raised its stake in shares of TechnipFMC by 18.0% in the first quarter. Invesco Ltd. now owns 7,458,847 shares of the oil and gas company's stock valued at $236,371,000 after acquiring an additional 1,136,554 shares in the last quarter. Finally, Anomaly Capital Management LP raised its stake in shares of TechnipFMC by 46.5% in the fourth quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company's stock valued at $210,295,000 after acquiring an additional 2,306,342 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on FTI shares. Susquehanna increased 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. Barclays raised their price target on TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. BTIG Research cut TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Citigroup restated a "buy" rating and issued a $41.00 price target (up from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Finally, Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.92.

Insider Activity at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of TechnipFMC stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $37.12, for a total transaction of $348,222.72. Following the sale, the director owned 62,978 shares in the company, valued at approximately $2,337,743.36. The trade was a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.80% of the company's stock.

TechnipFMC Stock Performance

Shares of FTI traded up $0.7960 during midday trading on Friday, reaching $36.1060. 867,208 shares of the stock were exchanged, compared to its average volume of 4,326,281. The business's 50-day moving average price is $34.92 and its 200 day moving average price is $31.08. 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 twelve month low of $22.11 and a twelve month high of $38.05. The company has a market capitalization of $14.84 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 1.11 and a beta of 1.04.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its earnings results on Thursday, July 24th. The oil and gas company reported $0.68 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 previous year, the firm earned $0.43 earnings per share. The business's revenue was up 9.0% compared to the same quarter last year. TechnipFMC has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. TechnipFMC's payout ratio is 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.