Corigliano Investment Advisers LLC Cuts Position in TechnipFMC plc $FTI

Key Points

• Corigliano Investment Advisers LLC reduced its stake in TechnipFMC by 36.2%, selling 143,885 shares during the first quarter, leaving it with a total of 253,191 shares.
• Director Rousset Sophie Zurquiyah sold 9,381 shares of TechnipFMC stock at an average price of $37.12, marking a 12.96% decrease in her position.
• Brokerage analyst ratings for TechnipFMC include upgrades from Susquehanna to a "positive" rating and Wall Street Zen to a "buy" rating, with Barclays increasing its price target to $51.00.

Corigliano Investment Advisers LLC reduced its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 36.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 253,191 shares of the oil and gas company's stock after selling 143,885 shares during the quarter. TechnipFMC makes up about 3.6% of Corigliano Investment Advisers LLC's portfolio, making the stock its 10th biggest holding. Corigliano Investment Advisers LLC owned 0.06% of TechnipFMC worth $8,024,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in TechnipFMC by 111.4% in the 1st quarter. AQR Capital Management LLC now owns 8,735,697 shares of the oil and gas company's stock valued at $273,078,000 after purchasing an additional 4,602,939 shares during the period. Boston Partners boosted its stake in TechnipFMC by 648.3% in the 1st quarter. Boston Partners now owns 2,630,793 shares of the oil and gas company's stock valued at $83,281,000 after purchasing an additional 2,279,247 shares during the period. Nuveen LLC bought a new stake in TechnipFMC in the 1st quarter valued at $64,217,000. Ameriprise Financial Inc. boosted its stake in TechnipFMC by 9.0% in the 1st quarter. Ameriprise Financial Inc. now owns 18,030,976 shares of the oil and gas company's stock valued at $571,583,000 after purchasing an additional 1,492,746 shares during the period. Finally, Deutsche Bank AG boosted its stake in TechnipFMC by 92.5% in the 4th quarter. Deutsche Bank AG now owns 2,777,040 shares of the oil and gas company's stock valued at $80,368,000 after purchasing an additional 1,334,555 shares during the period. 96.58% of the stock is currently owned by institutional investors.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the company's stock in a transaction dated 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 filing with the SEC, which is accessible through this link. Company insiders own 1.80% of the company's stock.

TechnipFMC Price Performance

Shares of TechnipFMC stock traded up $0.61 during trading on Tuesday, reaching $39.89. 3,105,827 shares of the company's stock were exchanged, compared to its average volume of 4,377,742. 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 plc has a 1-year low of $22.11 and a 1-year high of $39.97. The company has a market cap of $16.39 billion, a P/E ratio of 18.83, a PEG ratio of 1.24 and a beta of 1.10. The firm's 50-day moving average price is $35.59 and its 200 day moving average price is $31.65.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the company posted $0.43 EPS. TechnipFMC'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, research analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, August 19th. TechnipFMC's payout ratio is 9.43%.

Analyst Ratings Changes

FTI has been the subject of several recent research reports. BTIG Research downgraded TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Barclays lifted their price objective on TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Royal Bank Of Canada lifted their price objective on TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Citigroup reaffirmed a "buy" rating and issued a $41.00 price objective (up from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Finally, Susquehanna lifted their price objective on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.92.

About TechnipFMC

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.