Bayforest Capital Ltd Acquires Shares of 34,463 TechnipFMC plc $FTI

Key Points

• Bayforest Capital Ltd acquired 34,463 shares of TechnipFMC plc, amounting to approximately $1.19 million, which constitutes 0.5% of its portfolio, marking it as their 15th largest investment.
• Institutional ownership for TechnipFMC is high at 96.58%, with significant increases in holdings reported by firms such as Ameriprise Financial and AQR Capital Management during the first quarter.
• Wall Street analysts have positive outlooks for TechnipFMC, with the average price target set at $41.93, and many upgrades in ratings indicating a strong buy sentiment.

Bayforest Capital Ltd purchased a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 34,463 shares of the oil and gas company's stock, valued at approximately $1,187,000. TechnipFMC accounts for approximately 0.5% of Bayforest Capital Ltd's holdings, making the stock its 15th biggest position.

Several other institutional investors also recently modified their holdings of the business. Ameriprise Financial Inc. grew its position in shares of TechnipFMC by 9.0% during the 1st quarter. Ameriprise Financial Inc. now owns 18,030,976 shares of the oil and gas company's stock worth $571,583,000 after buying an additional 1,492,746 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of TechnipFMC by 2.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,952,064 shares of the oil and gas company's stock worth $315,381,000 after buying an additional 202,599 shares during the period. AQR Capital Management LLC grew its position in shares of TechnipFMC by 111.4% during the 1st quarter. AQR Capital Management LLC now owns 8,735,697 shares of the oil and gas company's stock worth $273,078,000 after buying an additional 4,602,939 shares during the period. Invesco Ltd. grew its position in shares of TechnipFMC by 18.0% during the 1st quarter. Invesco Ltd. now owns 7,458,847 shares of the oil and gas company's stock worth $236,371,000 after buying an additional 1,136,554 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in TechnipFMC by 21.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,124,326 shares of the oil and gas company's stock worth $162,390,000 after acquiring an additional 910,891 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. Susquehanna lifted their price objective on shares of TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Citigroup reissued 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. BNP Paribas set a $47.00 price target on shares of TechnipFMC and gave the company an "outperform" rating in a research note on Friday. Finally, Royal Bank Of Canada lifted their price target on shares of TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, TechnipFMC has an average rating of "Moderate Buy" and an average target price of $41.93.

TechnipFMC Stock Performance

Shares of FTI stock opened at $36.09 on Tuesday. The company's fifty day simple moving average is $37.60 and its 200-day simple moving average is $33.53. The company has a quick ratio of 0.86, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market cap of $14.83 billion, a PE ratio of 17.02, a P/E/G ratio of 1.15 and a beta of 1.04. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $41.29.

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 for the quarter, topping analysts' consensus estimates of $0.57 by $0.11. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.49 billion. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. Equities research analysts expect that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, August 19th. TechnipFMC's payout ratio is presently 9.43%.

Insider Buying and Selling at TechnipFMC

In related news, CEO Douglas J. Pferdehirt sold 80,304 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.35, for a total transaction of $3,079,658.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thierry Conti sold 50,000 shares of the company's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $38.64, for a total transaction of $1,932,000.00. Following the sale, the insider directly owned 56,352 shares of the company's stock, valued at $2,177,441.28. This represents a 47.01% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 885,984 shares of company stock worth $34,180,811. Insiders own 1.80% of the company's stock.

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.

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