State of New Jersey Common Pension Fund D Has $5.18 Million Stock Position in TechnipFMC plc $FTI

Key Points

• The State of New Jersey Common Pension Fund D reduced its position in TechnipFMC plc by 10.5%, selling 19,222 shares and ending the first quarter with a total of 163,310 shares valued at $5.175 million.
• TechnipFMC reported a Q2 EPS of $0.68, surpassing analysts' expectations, with revenues reaching $2.53 billion, reflecting a 9.0% year-over-year growth.
• The company will pay a quarterly dividend of $0.05 on September 3rd, which translates to an annualized yield of 0.6% with a payout ratio of 9.43%.

State of New Jersey Common Pension Fund D lessened its position in TechnipFMC plc (NYSE:FTI - Free Report) by 10.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 163,310 shares of the oil and gas company's stock after selling 19,222 shares during the period. State of New Jersey Common Pension Fund D's holdings in TechnipFMC were worth $5,175,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. New York State Teachers Retirement System acquired a new stake in shares of TechnipFMC in the 1st quarter worth about $33,000. Financial Network Wealth Advisors LLC increased its holdings in shares of 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 acquiring an additional 346 shares during the period. Quarry LP increased its stake in TechnipFMC by 95.9% during the 4th quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock valued at $74,000 after buying an additional 1,248 shares during the period. Farther Finance Advisors LLC increased its stake in TechnipFMC by 346.7% during 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 buying an additional 2,219 shares during the period. Finally, GAMMA Investing LLC increased its stake in TechnipFMC by 27.0% during the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock valued at $91,000 after buying 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 news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $37.12, for a total transaction of $348,222.72. Following the completion of the transaction, the director owned 62,978 shares in the company, valued at approximately $2,337,743.36. This trade represents a 12.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.80% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on FTI. BTIG Research cut shares of TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Evercore ISI raised 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 raised their target price on shares of TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Citigroup reissued a "buy" rating and set a $41.00 target price (up previously from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $38.92.

TechnipFMC Price Performance

Shares of NYSE:FTI traded up $0.7740 during trading hours on Friday, hitting $36.0840. 3,072,205 shares of the company's stock traded hands, compared to its average volume of 2,904,385. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $38.05. 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 company's fifty day simple moving average is $34.95 and its two-hundred day simple moving average is $31.12. The company has a market cap of $14.83 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.16 and a beta of 1.04.

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 for the quarter, beating the consensus estimate of $0.57 by $0.11. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the firm posted $0.43 EPS. The business's revenue for the quarter was up 9.0% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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