Goldman Sachs Group Inc. Purchases 910,891 Shares of TechnipFMC plc $FTI

Key Points

• Goldman Sachs Group Inc. has increased its stake in TechnipFMC plc by 21.6%, owning 5,124,326 shares worth approximately $162.39 million as of the latest SEC filing.
• TechnipFMC's stock has been positively received by analysts, with target prices raised by several firms, including Barclays increasing its forecast from $45 to $51 and Susquehanna from $40 to $45.
• The oil and gas company reported better-than-expected quarterly earnings of $0.68 per share, exceeding analyst estimates of $0.57 and showing a 9% revenue increase year-over-year.

Goldman Sachs Group Inc. boosted its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 21.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,124,326 shares of the oil and gas company's stock after buying an additional 910,891 shares during the period. Goldman Sachs Group Inc. owned approximately 1.22% of TechnipFMC worth $162,390,000 as of its most recent SEC filing.

Other large investors 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 valued at approximately $33,000. Financial Network Wealth Advisors LLC lifted its holdings 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 valued at $48,000 after buying an additional 346 shares during the period. Brooklyn Investment Group lifted its holdings 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 valued at $68,000 after buying an additional 2,061 shares during the period. GAMMA Investing LLC lifted its holdings in TechnipFMC by 27.0% in the first 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 during the period. Finally, Farther Finance Advisors LLC lifted its holdings in TechnipFMC by 346.7% in the first quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock valued at $92,000 after buying an additional 2,219 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FTI. Susquehanna increased their price objective on shares of TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a report on Friday, July 25th. Royal Bank Of Canada increased their target price on shares of TechnipFMC from $37.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Evercore ISI increased their target price 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 upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Barclays increased their target price 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 research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, TechnipFMC currently has a consensus rating of "Moderate Buy" and an average target price of $38.92.

Insiders Place Their Bets

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the firm's stock in a transaction on 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 transaction, the director owned 62,978 shares of the company's stock, valued at approximately $2,337,743.36. This trade represents a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company's stock.

TechnipFMC Stock Down 0.1%

TechnipFMC stock traded down $0.02 during mid-day trading on Tuesday, reaching $39.00. The company's stock had a trading volume of 4,972,604 shares, compared to its average volume of 7,409,855. The company has a market capitalization of $16.03 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $41.29. The business's 50 day simple moving average is $36.18 and its 200 day simple moving average is $32.10. 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 (NYSE:FTI - Get Free Report) last released its earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share 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 the consensus estimate of $2.49 billion. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 earnings per share. 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Tuesday, August 19th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.5%. TechnipFMC's dividend payout ratio (DPR) is 9.43%.

TechnipFMC Company 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.