R Squared Ltd Acquires 8,514 Shares of TechnipFMC plc $FTI

Key Points

• R Squared Ltd increased its stake in TechnipFMC plc by 72.8%, acquiring an additional 8,514 shares, totaling 20,204 shares worth $696,000 as of the latest SEC filing.
• TechnipFMC's CEO and CFO sold significant amounts of stock; CEO Douglas J. Pferdehirt sold 80,304 shares and CFO Alf Melin sold 113,760 shares, indicating a noteworthy reduction in their holdings.
• The company authorized a $2.00 billion share buyback program, allowing the reacquisition of up to 13.3% of its stock, suggesting leadership believes the shares are undervalued.

R Squared Ltd grew its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 72.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,204 shares of the oil and gas company's stock after acquiring an additional 8,514 shares during the quarter. R Squared Ltd's holdings in TechnipFMC were worth $696,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System bought a new stake in TechnipFMC in the 1st quarter worth approximately $33,000. Geneos Wealth Management Inc. boosted its holdings 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 worth $35,000 after buying an additional 340 shares during the last quarter. Financial Network Wealth Advisors LLC increased its holdings in 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 boosted its stake in shares of TechnipFMC by 2,216.1% during the 1st 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 during the last quarter. Finally, Compagnie Lombard Odier SCmA grew its position in shares of TechnipFMC by 67.2% during the 2nd quarter. Compagnie Lombard Odier SCmA now owns 2,608 shares of the oil and gas company's stock valued at $90,000 after acquiring an additional 1,048 shares during the period. Institutional investors own 96.58% of the company's stock.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, CEO Douglas J. Pferdehirt sold 80,304 shares of the firm's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.35, for a total transaction of $3,079,658.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alf Melin sold 113,760 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.61, for a total transaction of $4,392,273.60. Following the completion of the sale, the chief financial officer directly owned 241,140 shares of the company's stock, valued at $9,310,415.40. The trade was a 32.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 876,603 shares of company stock valued at $33,832,588 in the last ninety days. Corporate insiders own 1.80% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on FTI shares. Piper Sandler set a $48.00 price objective on TechnipFMC and gave the stock an "overweight" rating in a research note on Tuesday, October 14th. Susquehanna boosted 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. Weiss Ratings reissued a "buy (b)" rating on shares of TechnipFMC in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of TechnipFMC from $41.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, TechnipFMC presently has a consensus rating of "Buy" and an average target price of $41.93.

TechnipFMC Price Performance

Shares of FTI stock opened at $40.83 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.10. The stock has a 50 day moving average price of $37.86 and a 200 day moving average price of $33.89. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $41.35. The firm has a market capitalization of $16.78 billion, a P/E ratio of 19.26, a P/E/G ratio of 1.10 and a beta of 1.04.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.10. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. The business's revenue was up 12.7% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC announced that its board has authorized a share repurchase program on Wednesday, October 22nd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 13.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $0.20 annualized dividend and a yield of 0.5%. TechnipFMC's dividend payout ratio is 9.43%.

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.

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