AQR Capital Management LLC Has $273.08 Million Stock Position in TechnipFMC plc $FTI

Key Points

• AQR Capital Management LLC increased its stake in TechnipFMC plc by 111.4% in Q1, owning approximately 8.7 million shares valued at $273 million.
• Analysts have raised their price targets for TechnipFMC, with Barclays setting a target of $51.00 and others providing ratings ranging from "Buy" to "Hold."
• TechnipFMC reported stronger-than-expected earnings per share (EPS) of $0.68, exceeding estimates and reflecting a 9% increase in revenue year-over-year.

AQR Capital Management LLC grew its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 111.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 8,735,697 shares of the oil and gas company's stock after purchasing an additional 4,602,939 shares during the quarter. AQR Capital Management LLC owned 2.08% of TechnipFMC worth $273,078,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of FTI. Alyeska Investment Group L.P. grew its holdings in shares of TechnipFMC by 60.9% in the 1st quarter. Alyeska Investment Group L.P. now owns 2,158,240 shares of the oil and gas company's stock worth $68,395,000 after acquiring an additional 817,111 shares during the last quarter. Amundi grew its holdings in shares of TechnipFMC by 0.9% in the 1st quarter. Amundi now owns 2,277,611 shares of the oil and gas company's stock worth $67,167,000 after acquiring an additional 20,887 shares during the last quarter. Perbak Capital Partners LLP acquired a new position in shares of TechnipFMC in the 1st quarter worth $367,000. Dark Forest Capital Management LP grew its holdings in shares of TechnipFMC by 82.9% in the 1st quarter. Dark Forest Capital Management LP now owns 204,501 shares of the oil and gas company's stock worth $6,481,000 after acquiring an additional 92,714 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in shares of TechnipFMC in the 1st quarter worth $230,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Up 1.0%

Shares of NYSE:FTI traded up $0.41 on Monday, reaching $39.31. The company had a trading volume of 2,545,844 shares, compared to its average volume of 4,361,157. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $39.85. The stock has a 50-day moving average price of $35.49 and a 200 day moving average price of $31.58. The stock has a market capitalization of $16.16 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.24 and a beta of 1.10. 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 results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share 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 company had revenue of $2.53 billion during 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 quarterly revenue was up 9.0% compared to the same quarter last year. TechnipFMC has set its FY 2025 guidance at EPS. On average, equities analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. BTIG Research cut TechnipFMC from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Barclays lifted their price target on TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Evercore ISI lifted their price target on TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Sanford C. Bernstein downgraded TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a report on Thursday, May 22nd. Finally, Citigroup reiterated 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. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.92.

Insider Buying and Selling

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of TechnipFMC 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 transaction, the director directly owned 62,978 shares of the company's stock, valued at $2,337,743.36. The trade was a 12.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

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.