Alyeska Investment Group L.P. Buys 817,111 Shares of TechnipFMC plc $FTI

Key Points

• Alyeska Investment Group L.P. increased its stake in TechnipFMC plc by 60.9%, owning over 2.15 million shares worth approximately $68.4 million as of the latest SEC filing.
• TechnipFMC reported a profit of $0.68 EPS for its recent quarter, exceeding analyst expectations and showing a 9% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.05 per share, yielding 0.5%, with the ex-dividend date set for August 19th.

Alyeska Investment Group L.P. grew its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 60.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,158,240 shares of the oil and gas company's stock after acquiring an additional 817,111 shares during the quarter. Alyeska Investment Group L.P. owned about 0.51% of TechnipFMC worth $68,395,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. New York State Teachers Retirement System purchased a new position in TechnipFMC in the first quarter valued at approximately $33,000. Financial Network Wealth Advisors LLC boosted its holdings in TechnipFMC by 29.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company's stock worth $48,000 after purchasing an additional 346 shares during the period. Brooklyn Investment Group boosted 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. Farther Finance Advisors LLC boosted its holdings in TechnipFMC by 346.7% in the first quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock worth $92,000 after purchasing an additional 2,219 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of TechnipFMC by 27.0% during the first quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock valued at $91,000 after acquiring an additional 614 shares during the period. Hedge funds and other institutional investors own 96.58% of the company's stock.

TechnipFMC Price Performance

Shares of NYSE FTI traded up $0.47 during midday trading on Monday, reaching $39.37. 2,212,905 shares of the company traded hands, compared to its average volume of 4,359,007. The firm has a market cap of $16.18 billion, a PE ratio of 18.58, a PEG ratio of 1.24 and a beta of 1.10. The stock's 50-day simple moving average is $35.49 and its 200-day simple moving average is $31.58. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $39.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.10.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results 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 return on equity of 29.42% and a net margin of 9.60%.The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the company posted $0.43 earnings per share. The firm's quarterly revenue 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 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

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

Wall Street Analysts Forecast Growth

FTI has been the subject of several analyst reports. Citigroup reissued a "buy" rating and set a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Evercore ISI boosted their price objective on TechnipFMC from $42.00 to $46.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Susquehanna boosted their price objective on TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Wall Street Zen raised TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Barclays boosted 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. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $38.92.

Insider Activity

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the business's stock in a transaction that occurred 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 owned 62,978 shares in the company, valued at approximately $2,337,743.36. The trade was a 12.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.