Empowered Funds LLC Takes Position 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 position in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Financial Network Wealth Advisors LLC boosted its position in shares of TechnipFMC by 29.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company's stock valued at $48,000 after acquiring an additional 346 shares during the last quarter. Diversify Advisory Services LLC lifted its position in TechnipFMC by 5.1% during the first quarter. Diversify Advisory Services LLC now owns 7,506 shares of the oil and gas company's stock valued at $238,000 after purchasing an additional 362 shares during the last quarter. Acuitas Investments LLC grew its stake in TechnipFMC by 13.4% in the 1st quarter. Acuitas Investments LLC now owns 3,394 shares of the oil and gas company's stock worth $108,000 after buying an additional 400 shares in the last quarter. KBC Group NV increased its holdings in shares of TechnipFMC by 2.4% in the 1st quarter. KBC Group NV now owns 18,129 shares of the oil and gas company's stock worth $575,000 after buying an additional 429 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of TechnipFMC by 27.0% during the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock valued at $91,000 after buying an additional 614 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.

Analyst Upgrades and Downgrades

FTI has been the subject of several research reports. BTIG Research lowered shares of TechnipFMC from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Barclays raised their price objective on TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Wall Street Zen raised TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Sanford C. Bernstein cut TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price for the company. in a report on Thursday, May 22nd. Finally, Susquehanna lifted their price target on TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.92.

TechnipFMC Trading Down 1.2%

NYSE:FTI traded down $0.47 during mid-day trading on Friday, reaching $39.83. 5,681,535 shares of the company's stock traded hands, compared to its average volume of 7,086,263. The company has a 50 day moving average price of $36.02 and a 200-day moving average price of $31.97. The firm has a market capitalization of $16.37 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 1.29 and a beta of 1.10. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86. 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 released its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter last year, the business posted $0.43 EPS. The business's revenue was up 9.0% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

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

Insiders Place Their Bets

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of TechnipFMC stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $37.12, for a total transaction of $348,222.72. Following the sale, the director directly owned 62,978 shares in the company, valued at $2,337,743.36. The trade was a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company's stock.

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.