Goldman Sachs Group Inc. Boosts Stock Position in 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. increased its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 21.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,124,326 shares of the oil and gas company's stock after acquiring an additional 910,891 shares during the quarter. Goldman Sachs Group Inc. owned about 1.22% of TechnipFMC worth $162,390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of FTI. New York State Teachers Retirement System purchased a new stake in shares of TechnipFMC in the 1st quarter worth about $33,000. Financial Network Wealth Advisors LLC raised its position in TechnipFMC by 29.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company's stock worth $48,000 after buying an additional 346 shares during the last quarter. Brooklyn Investment Group boosted its holdings in shares of TechnipFMC by 2,216.1% during the 1st quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company's stock valued at $68,000 after acquiring an additional 2,061 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of TechnipFMC by 27.0% in the first quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock worth $91,000 after acquiring an additional 614 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of TechnipFMC by 346.7% during 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 purchasing an additional 2,219 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

Insider Buying and Selling at TechnipFMC

In related 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 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 represents a 12.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FTI shares. Susquehanna lifted their target price on shares of TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Sanford C. Bernstein lowered TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price objective for the company. in a report on Thursday, May 22nd. Citigroup reissued a "buy" rating and issued a $41.00 target price (up previously from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Barclays raised their price objective 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 given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $38.92.

TechnipFMC Stock Up 3.1%

NYSE FTI opened at $40.89 on Thursday. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $41.19. The company has a quick ratio of 0.86, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $16.81 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.10. The stock's 50-day moving average price is $35.82 and its 200-day moving average price is $31.77.

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 (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.11. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the firm posted $0.43 EPS. The firm's quarterly revenue was up 9.0% compared to the same quarter last year. TechnipFMC has set its FY 2025 guidance at EPS. On average, equities research analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

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

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.

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