Lord Abbett & CO. LLC Sells 170,060 Shares of TechnipFMC plc $FTI

Key Points

• Lord Abbett & CO. LLC reduced its stake in TechnipFMC plc by 15.8%, selling 170,060 shares and retaining 904,318 shares worth approximately $28.7 million.
• TechnipFMC reported a quarterly earnings per share (EPS) of $0.68, beating analyst estimates, with revenues of $2.53 billion marking a 9.0% year-over-year increase.
• The company declared a quarterly dividend of $0.05 per share, representing a 0.6% dividend yield with a payout ratio of about 9.43%.

Lord Abbett & CO. LLC cut its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 15.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 904,318 shares of the oil and gas company's stock after selling 170,060 shares during the period. Lord Abbett & CO. LLC owned approximately 0.22% of TechnipFMC worth $28,658,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. New York State Teachers Retirement System purchased a new stake in TechnipFMC during the first quarter valued at about $33,000. Financial Network Wealth Advisors LLC raised its holdings in shares of TechnipFMC by 29.7% during 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 acquiring an additional 346 shares during the period. Quarry LP lifted its position in shares of TechnipFMC by 95.9% in the 4th quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock valued at $74,000 after acquiring an additional 1,248 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of TechnipFMC by 346.7% in the 1st quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock valued at $92,000 after acquiring an additional 2,219 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in TechnipFMC by 27.0% in the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock worth $91,000 after purchasing an additional 614 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $37.12, for a total value of $348,222.72. Following the completion of the sale, the director owned 62,978 shares of the company's stock, valued at $2,337,743.36. The trade was a 12.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is owned by corporate insiders.

TechnipFMC Stock Down 0.4%

FTI traded down $0.13 during midday trading on Wednesday, hitting $34.70. 2,496,894 shares of the company's stock traded hands, compared to its average volume of 3,618,233. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86. The company has a market cap of $14.26 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 1.12 and a beta of 1.04. The stock's fifty day simple moving average is $34.91 and its 200-day simple moving average is $31.05. TechnipFMC plc has a one year low of $22.11 and a one year high of $38.05.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.57 by $0.11. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. TechnipFMC's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.43 EPS. TechnipFMC has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, August 19th. TechnipFMC's dividend payout ratio (DPR) is 9.43%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FTI. Citigroup restated 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 TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Royal Bank Of Canada raised their price objective on TechnipFMC from $37.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Susquehanna upped their target price on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a report on Friday, July 25th. Finally, Sanford C. Bernstein lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target for the company. in a research report on Thursday, May 22nd. One investment 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $38.92.

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.