Pallas Capital Advisors LLC Cuts Holdings in TechnipFMC plc $FTI

Key Points

• Pallas Capital Advisors LLC reduced its holdings in TechnipFMC plc by 15.3% during Q2, now owning 46,757 shares valued at $1.61 million.
• The company recently reported earnings of $0.68 per share, exceeding the expectation of $0.57, with quarterly revenue hitting $2.53 billion.
• TechnipFMC declared a quarterly dividend of $0.05 per share, representing an annualized yield of 0.5% and a payout ratio of 9.43%.

Pallas Capital Advisors LLC reduced its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 15.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,757 shares of the oil and gas company's stock after selling 8,457 shares during the quarter. Pallas Capital Advisors LLC's holdings in TechnipFMC were worth $1,610,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. New York State Teachers Retirement System bought a new stake in shares of TechnipFMC during the 1st quarter worth $33,000. Geneos Wealth Management Inc. lifted 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 during the last quarter. Financial Network Wealth Advisors LLC lifted 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 during the last quarter. Brooklyn Investment Group raised its position in TechnipFMC by 2,216.1% in the first quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company's stock valued at $68,000 after purchasing an additional 2,061 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in TechnipFMC by 27.0% in the first quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock valued at $91,000 after purchasing an additional 614 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 transaction of $348,222.72. Following the completion of the transaction, the director directly owned 62,978 shares in the company, valued at $2,337,743.36. The trade was a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.80% of the company's stock.

TechnipFMC Stock Up 0.4%

Shares of NYSE:FTI traded up $0.16 during mid-day trading on Friday, hitting $39.39. 12,330,290 shares of the company traded hands, compared to its average volume of 7,650,975. The stock has a market cap of $16.19 billion, a P/E ratio of 18.58, a P/E/G ratio of 1.26 and a beta of 1.10. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $41.29. The stock has a 50-day moving average price of $36.41 and a two-hundred day moving average price of $32.31.

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

TechnipFMC Announces Dividend

The business also recently disclosed 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, August 19th. TechnipFMC's payout ratio is presently 9.43%.

Wall Street Analysts Forecast Growth

FTI has been the subject of several research reports. BTIG Research downgraded TechnipFMC from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Citigroup reissued a "buy" rating and issued a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. 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. Finally, Susquehanna raised their price objective on TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $38.92.

About TechnipFMC

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.