TechnipFMC plc $FTI Shares Acquired by Dark Forest Capital Management LP

Key Points

• Dark Forest Capital Management LP increased its holdings in TechnipFMC plc by 82.9%, now owning 204,501 shares valued at approximately $6.48 million.
• Analysts are bullish on TechnipFMC, with Barclays setting a new price target of $51.00 and a majority issuing positive ratings including 11 'Buy' and 3 'Hold' recommendations.
• TechnipFMC reported a net profit of $0.68 EPS for the last quarter, surpassing estimates, and experienced a 9% increase in year-over-year revenue.

Dark Forest Capital Management LP grew its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 82.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 204,501 shares of the oil and gas company's stock after acquiring an additional 92,714 shares during the period. Dark Forest Capital Management LP's holdings in TechnipFMC were worth $6,481,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in FTI. Integrated Wealth Concepts LLC purchased a new stake in shares of TechnipFMC in the 4th quarter valued at $257,000. The Manufacturers Life Insurance Company boosted its holdings in TechnipFMC by 1.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 65,541 shares of the oil and gas company's stock worth $1,897,000 after buying an additional 1,231 shares in the last quarter. Northern Trust Corp boosted its holdings in TechnipFMC by 34.4% during the fourth quarter. Northern Trust Corp now owns 2,658,740 shares of the oil and gas company's stock worth $76,944,000 after buying an additional 681,180 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in TechnipFMC during the fourth quarter worth $375,000. Finally, Ameriprise Financial Inc. boosted its holdings in TechnipFMC by 31.5% during the fourth quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock worth $478,620,000 after buying an additional 3,962,315 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FTI. Sanford C. Bernstein downgraded shares of 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. BTIG Research downgraded shares of TechnipFMC from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Evercore ISI increased their price target on shares of TechnipFMC from $42.00 to $46.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Barclays increased their price target on shares of TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $38.92.

TechnipFMC Price Performance

NYSE:FTI traded down $0.75 during trading hours on Friday, reaching $38.90. 9,196,298 shares of the company were exchanged, compared to its average volume of 3,136,226. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The stock's 50-day moving average is $35.49 and its 200-day moving average is $31.57. The firm has a market cap of $15.99 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.27 and a beta of 1.10. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $39.85.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results 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. The business had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.49 billion. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The company's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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 0.5%. The ex-dividend date was Tuesday, August 19th. TechnipFMC's dividend payout ratio is 9.43%.

Insider Activity at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $37.12, for a total value of $348,222.72. Following the completion of the sale, the director directly owned 62,978 shares in the company, valued at $2,337,743.36. This represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by company 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.