Robotti Robert Cuts Stock Holdings in TechnipFMC plc $FTI

Key Points

• Robotti Robert reduced its holdings in TechnipFMC by 58.7%, selling 288,355 shares during the first quarter, leaving them with approximately 203,067 shares valued at $6.43 million.
• Multiple hedge funds have adjusted their stakes in TechnipFMC, with notables like the New York State Teachers Retirement System starting a new position valued at around $33,000.
• Analysts have upgraded their ratings for TechnipFMC, with Barclays raising the price target from $45.00 to $51.00 and maintaining an "overweight" rating on the stock.

Robotti Robert trimmed its position in TechnipFMC plc (NYSE:FTI - Free Report) by 58.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 203,067 shares of the oil and gas company's stock after selling 288,355 shares during the period. TechnipFMC comprises about 1.3% of Robotti Robert's portfolio, making the stock its 19th largest holding. Robotti Robert's holdings in TechnipFMC were worth $6,435,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FTI. New York State Teachers Retirement System acquired a new stake in TechnipFMC in the 1st quarter worth about $33,000. Financial Network Wealth Advisors LLC boosted its holdings in TechnipFMC by 29.7% in 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. Quarry LP boosted its holdings in TechnipFMC by 95.9% in the 4th quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock worth $74,000 after buying an additional 1,248 shares during the last quarter. GAMMA Investing LLC boosted its holdings 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 buying an additional 614 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in 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 buying an additional 2,219 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the business'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 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 document filed with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by insiders.

TechnipFMC Trading Down 0.5%

NYSE FTI traded down $0.1750 on Tuesday, reaching $34.8050. The stock had a trading volume of 524,397 shares, compared to its average volume of 4,357,114. The firm has a market capitalization of $14.31 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 1.14 and a beta of 1.04. 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 plc has a 12-month low of $22.11 and a 12-month high of $38.05. The stock has a fifty day moving average price of $34.86 and a two-hundred day moving average price of $31.00.

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 analysts' consensus estimates 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 return on equity of 29.42% and a net margin of 9.60%.The firm's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. TechnipFMC's payout ratio is presently 9.43%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FTI shares. BTIG Research cut TechnipFMC from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Citigroup restated a "buy" rating and set a $41.00 target price (up from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Barclays boosted their target price on TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Susquehanna boosted their target price on TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Finally, Sanford C. Bernstein cut TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price on the stock. in a report on Thursday, May 22nd. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.