Gries Financial LLC Invests $219,000 in TechnipFMC plc $FTI

Key Points

• Gries Financial LLC has invested $219,000 in TechnipFMC plc, acquiring 6,354 shares during the second quarter, highlighting investor interest in the oil and gas sector.
• A significant insider sale occurred, with CFO Alf Melin and CEO Douglas J. Pferdehirt selling a combined total of 746,299 shares, raising concerns about insider confidence in the stock.
• Analysts have raised price targets for TechnipFMC, with Barclays increasing its target from $45.00 to $51.00, reflecting optimistic sentiment around the company's performance.

Gries Financial LLC purchased a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,354 shares of the oil and gas company's stock, valued at approximately $219,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Diversified Trust Co grew its position in shares of TechnipFMC by 0.8% during the 2nd quarter. Diversified Trust Co now owns 40,830 shares of the oil and gas company's stock worth $1,406,000 after buying an additional 306 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock worth $35,000 after buying an additional 340 shares in the last quarter. Financial Network Wealth Advisors LLC grew 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 worth $48,000 after buying an additional 346 shares in the last quarter. Diversify Advisory Services LLC grew its position in shares of TechnipFMC by 5.1% during the 1st quarter. Diversify Advisory Services LLC now owns 7,506 shares of the oil and gas company's stock worth $238,000 after buying an additional 362 shares in the last quarter. Finally, Acuitas Investments LLC grew its position in shares of TechnipFMC by 13.4% during 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. Institutional investors own 96.58% of the company's stock.

Insider Transactions at TechnipFMC

In other news, CFO Alf Melin sold 113,760 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $38.61, for a total value of $4,392,273.60. Following the completion of the transaction, the chief financial officer directly owned 241,140 shares in the company, valued at $9,310,415.40. This trade represents a 32.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Douglas J. Pferdehirt sold 632,539 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $38.62, for a total value of $24,428,656.18. Following the completion of the transaction, the chief executive officer owned 2,917,054 shares of the company's stock, valued at approximately $112,656,625.48. The trade was a 17.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 885,984 shares of company stock valued at $34,180,811. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Susquehanna raised their price objective on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a research report on Friday, July 25th. Evercore ISI raised their price objective on TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Barclays raised their price objective on TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Finally, BTIG Research downgraded TechnipFMC from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $38.92.

TechnipFMC Trading Up 2.6%

TechnipFMC stock opened at $39.77 on Wednesday. The stock has a 50-day moving average of $36.61 and a two-hundred day moving average of $32.53. 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 one year low of $22.11 and a one year high of $41.29. The stock has a market cap of $16.35 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 1.24 and a beta of 1.10.

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

TechnipFMC Announces Dividend

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

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