Baird Financial Group Inc. Sells 65,189 Shares of TechnipFMC plc $FTI

Key Points

• Baird Financial Group Inc. significantly reduced its stake in TechnipFMC plc by 49.6%, selling 65,189 shares to end the quarter with 66,187 shares valued at approximately $2.1 million.
• TechnipFMC recently reported an EPS of $0.68, surpassing analysts' estimates of $0.57, alongside a 9.0% year-over-year revenue increase to $2.53 billion.
• The company declared a quarterly dividend of $0.05 per share, with an annualized yield of 0.5%, reflecting a low dividend payout ratio of 9.43%.

Baird Financial Group Inc. lowered its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 49.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,187 shares of the oil and gas company's stock after selling 65,189 shares during the period. Baird Financial Group Inc.'s holdings in TechnipFMC were worth $2,097,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Financial Network Wealth Advisors LLC raised its stake in shares of TechnipFMC by 29.7% during the 1st 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 in the last quarter. Diversify Advisory Services LLC raised its stake in shares of TechnipFMC by 5.1% during the 1st quarter. Diversify Advisory Services LLC now owns 7,506 shares of the oil and gas company's stock worth $238,000 after purchasing an additional 362 shares in the last quarter. Acuitas Investments LLC raised its stake in shares of TechnipFMC by 13.4% during the 1st quarter. Acuitas Investments LLC now owns 3,394 shares of the oil and gas company's stock worth $108,000 after purchasing an additional 400 shares in the last quarter. KBC Group NV raised its stake in shares of TechnipFMC by 2.4% during the 1st quarter. KBC Group NV now owns 18,129 shares of the oil and gas company's stock worth $575,000 after purchasing an additional 429 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of TechnipFMC by 27.0% during the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock worth $91,000 after purchasing an additional 614 shares in the last quarter. Institutional investors own 96.58% of the company's stock.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $38.90 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86. The stock's fifty day moving average price is $35.49 and its two-hundred day moving average price is $31.58. TechnipFMC plc has a one year low of $22.11 and a one year high of $39.85. The firm has a market cap of $15.99 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 1.24 and a beta of 1.10.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 EPS 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 firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the firm posted $0.43 EPS. The company's revenue for the quarter was up 9.0% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. On average, equities analysts forecast that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th were issued 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 currently 9.43%.

Insider Buying and Selling

In other TechnipFMC 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FTI. Citigroup reiterated a "buy" rating and set a $41.00 price objective (up previously from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Susquehanna increased their price target on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a research note on Friday, July 25th. 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 note on Thursday, May 22nd. Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Royal Bank Of Canada increased their price target on TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. One 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.92.

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.

Want to see what other hedge funds are holding FTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TechnipFMC plc (NYSE:FTI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.