NorthCrest Asset Manangement LLC Acquires New Shares in TechnipFMC plc $FTI

Key Points

• NorthCrest Asset Management LLC made a new investment in TechnipFMC plc, purchasing 7,286 shares worth approximately $254,000 during the 2nd quarter.
• Several institutional investors have increased their positions in TechnipFMC, with AQR Capital Management raising its holdings by 111.4% to own over 8.7 million shares.
• TechnipFMC reported a quarterly EPS of $0.68, surpassing estimates, alongside a dividend announcement with a yield of 0.5% for shareholders.

NorthCrest Asset Manangement LLC acquired a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,286 shares of the oil and gas company's stock, valued at approximately $254,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New York State Teachers Retirement System acquired a new position in shares of TechnipFMC during the 1st quarter valued at $33,000. Geneos Wealth Management Inc. lifted its stake in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock valued at $35,000 after buying an additional 340 shares in the last quarter. Financial Network Wealth Advisors LLC grew 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 buying an additional 346 shares during the last quarter. Brooklyn Investment Group increased its position in shares of TechnipFMC by 2,216.1% during the first quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company's stock worth $68,000 after acquiring an additional 2,061 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings 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 worth $92,000 after acquiring an additional 2,219 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

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 that occurred on 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 transaction, the director directly owned 62,978 shares of the company's stock, valued at $2,337,743.36. This represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on FTI. Evercore ISI boosted their target price on shares of TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Susquehanna upped their price target on shares of TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a research report on Friday, July 25th. Barclays raised their price target on shares of TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Citigroup restated a "buy" rating and issued a $41.00 price target (up from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Finally, BTIG Research cut shares of TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. One 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's stock. According to data from MarketBeat.com, TechnipFMC presently has an average rating of "Moderate Buy" and a consensus price target of $38.92.

TechnipFMC Stock Down 1.6%

Shares of FTI traded down $0.65 during mid-day trading on Monday, hitting $38.76. 5,191,419 shares of the company traded hands, compared to its average volume of 8,113,874. The business has a 50 day moving average of $36.50 and a 200 day moving average of $32.48. The company has a market capitalization of $15.93 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.26 and a beta of 1.10. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $41.29. The company has a quick ratio of 0.86, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

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

TechnipFMC Announces Dividend

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