Empowered Funds LLC Invests $7.28 Million in TechnipFMC plc $FTI

Key Points

• Empowered Funds LLC acquired 229,773 shares of TechnipFMC plc during the first quarter, marking a new investment position valued at approximately $7.3 million.
• Several institutional investors have also increased their stakes in TechnipFMC, with ownership rising to 96.58% among these investors.
• Brokerages have raised price targets for TechnipFMC, with Royal Bank of Canada increasing their target from $37.00 to $40.00, and Barclays lifting it from $45.00 to $51.00.

Empowered Funds LLC acquired a new stake in TechnipFMC plc (NYSE:FTI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 229,773 shares of the oil and gas company's stock, valued at approximately $7,282,000. Empowered Funds LLC owned approximately 0.05% of TechnipFMC as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in TechnipFMC by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,462,924 shares of the oil and gas company's stock worth $46,360,000 after acquiring an additional 8,823 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in TechnipFMC during the 1st quarter worth approximately $205,000. Stephens Investment Management Group LLC grew its holdings in TechnipFMC by 0.8% during the 1st quarter. Stephens Investment Management Group LLC now owns 3,439,595 shares of the oil and gas company's stock worth $109,001,000 after acquiring an additional 27,884 shares in the last quarter. Credit Agricole S A grew its holdings in TechnipFMC by 170.3% during the 1st quarter. Credit Agricole S A now owns 94,097 shares of the oil and gas company's stock worth $2,982,000 after acquiring an additional 59,281 shares in the last quarter. Finally, New York State Teachers Retirement System acquired a new position in TechnipFMC during the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Stock Performance

TechnipFMC stock traded up $0.05 during trading hours on Tuesday, reaching $39.07. 832,985 shares of the stock were exchanged, compared to its average volume of 4,730,040. The stock has a market cap of $16.06 billion, a P/E ratio of 18.41, a P/E/G ratio of 1.27 and a beta of 1.10. 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 52-week low of $22.11 and a 52-week high of $41.29. The firm's 50 day moving average is $36.11 and its 200 day moving average is $32.06.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.11. The company had revenue of $2.53 billion during 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%. TechnipFMC's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 EPS. TechnipFMC has set its FY 2025 guidance at EPS. Analysts predict that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. TechnipFMC's dividend payout ratio is 9.43%.

Insider Buying and Selling at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $37.12, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup reiterated a "buy" rating and set a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Barclays upped their target price on shares of TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Evercore ISI upped their target price on shares of TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Susquehanna upped their target price on shares of TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada upped their price target on shares of TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. One equities research 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. According to MarketBeat, TechnipFMC presently has an average rating of "Moderate Buy" and a consensus price target 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.