Chicago Partners Investment Group LLC bought a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,911 shares of the oil and gas company's stock, valued at approximately $299,000.
Other hedge funds have also bought and sold shares of the company. New York State Teachers Retirement System acquired a new position in TechnipFMC in the first quarter worth about $33,000. Geneos Wealth Management Inc. grew its stake in TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 340 shares in the last quarter. Financial Network Wealth Advisors LLC grew its stake 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 in the last quarter. Brooklyn Investment Group grew its stake 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 in the last quarter. Finally, Compagnie Lombard Odier SCmA grew its stake in TechnipFMC by 67.2% in the second quarter. Compagnie Lombard Odier SCmA now owns 2,608 shares of the oil and gas company's stock worth $90,000 after purchasing an additional 1,048 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, CFO Alf Melin sold 113,760 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.61, for a total transaction of $4,392,273.60. Following the sale, the chief financial officer owned 241,140 shares of the company's stock, valued at $9,310,415.40. The trade was a 32.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Pferdehirt sold 80,304 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.35, for a total value of $3,079,658.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 876,603 shares of company stock valued at $33,832,588. Insiders own 1.80% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently commented on FTI. BTIG Research downgraded TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. lifted their target price on TechnipFMC from $41.00 to $43.00 and gave the company an "overweight" rating in a research note on Thursday, October 2nd. BNP Paribas set a $47.00 target price on TechnipFMC and gave the company an "outperform" rating in a research note on Friday, October 10th. Evercore ISI lifted their target price on TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, Barclays lifted their target price on TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $42.00.
View Our Latest Stock Analysis on FTI
TechnipFMC Stock Performance
FTI opened at $39.51 on Friday. The business's 50 day moving average is $37.95 and its 200-day moving average is $34.00. The stock has a market cap of $16.24 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 1.20 and a beta of 1.04. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $41.35.
TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.10. The company had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The business's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. On average, analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.
TechnipFMC announced that its Board of Directors has approved a stock buyback program on Wednesday, October 22nd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 13.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.
TechnipFMC Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Tuesday, November 18th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, November 18th. TechnipFMC's payout ratio is 9.43%.
About TechnipFMC
(
Free Report)
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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