Jacobs Levy Equity Management Inc. Sells 84,395 Shares of TechnipFMC plc $FTI

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in TechnipFMC plc by 4.1% in Q1, selling 84,395 shares and holding approximately 1.996 million shares valued at $63.26 million as of the latest SEC filing.
• Several other hedge funds increased their positions in TechnipFMC, with Brooklyn Investment Group notably raising its stake by over 2,216%, now owning shares worth $68,000.
• TechnipFMC recently announced a quarterly dividend of $0.05 per share, representing a 0.5% dividend yield and a payout ratio of 9.43%.

Jacobs Levy Equity Management Inc. reduced its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,996,277 shares of the oil and gas company's stock after selling 84,395 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.48% of TechnipFMC worth $63,262,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Gotham Asset Management LLC increased its position in TechnipFMC by 8.1% during the 1st quarter. Gotham Asset Management LLC now owns 407,542 shares of the oil and gas company's stock valued at $12,915,000 after purchasing an additional 30,433 shares during the period. Encompass Capital Advisors LLC purchased a new position in TechnipFMC during the 1st quarter valued at $47,535,000. Bosun Asset Management LLC increased its position in TechnipFMC by 6.1% during the 1st quarter. Bosun Asset Management LLC now owns 34,044 shares of the oil and gas company's stock valued at $1,079,000 after purchasing an additional 1,963 shares during the period. AQR Capital Management LLC increased its position in TechnipFMC by 111.4% during the 1st quarter. AQR Capital Management LLC now owns 8,735,697 shares of the oil and gas company's stock valued at $273,078,000 after purchasing an additional 4,602,939 shares during the period. Finally, Alyeska Investment Group L.P. increased its position in TechnipFMC by 60.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,158,240 shares of the oil and gas company's stock valued at $68,395,000 after purchasing an additional 817,111 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Up 3.1%

FTI stock traded up $1.25 during trading on Wednesday, hitting $40.90. 3,042,462 shares of the stock traded hands, compared to its average volume of 4,387,422. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $41.19. The firm's 50 day moving average is $35.69 and its two-hundred day moving average is $31.71. The stock has a market cap of $16.81 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.26 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 (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, beating 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 for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the firm posted $0.43 EPS. TechnipFMC's revenue for the quarter was up 9.0% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup reaffirmed a "buy" rating and issued a $41.00 target price (up from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Barclays boosted their price objective on shares of TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Sanford C. Bernstein lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price objective on the stock. in a research note on Thursday, May 22nd. Finally, Susquehanna boosted their price objective on shares of 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 issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $38.92.

Insider Buying and Selling

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the stock in a transaction dated Friday, July 25th. The shares were 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 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company's stock.

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.