TechnipFMC plc $FTI Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. holds a significant investment in TechnipFMC plc, with a total stake valued at $1.28 billion, making it 20th in their portfolio after a 4.4% reduction in shares.
• Analysts have recently adjusted their price targets for TechnipFMC, with Evercore ISI increasing theirs from $42 to $46 while maintaining an "outperform" rating.
• TechnipFMC reported a strong quarterly earnings report, surpassing consensus estimates with $0.68 earnings per share and a year-over-year revenue increase of 9.0%.

T. Rowe Price Investment Management Inc. trimmed its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 4.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,296,788 shares of the oil and gas company's stock after selling 1,869,344 shares during the period. TechnipFMC accounts for about 0.8% of T. Rowe Price Investment Management Inc.'s investment portfolio, making the stock its 20th largest position. T. Rowe Price Investment Management Inc. owned about 9.61% of TechnipFMC worth $1,277,006,000 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 FTI. Credit Agricole S A grew its position in shares of TechnipFMC by 170.3% in the first quarter. Credit Agricole S A now owns 94,097 shares of the oil and gas company's stock valued at $2,982,000 after purchasing an additional 59,281 shares during the last quarter. Hsbc Holdings PLC lifted its stake in TechnipFMC by 3.6% in the 1st quarter. Hsbc Holdings PLC now owns 242,461 shares of the oil and gas company's stock valued at $7,633,000 after buying an additional 8,455 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in TechnipFMC by 162.0% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 45,795 shares of the oil and gas company's stock valued at $1,451,000 after buying an additional 28,315 shares during the last quarter. Brooklyn Investment Group grew its holdings in 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 valued at $68,000 after buying an additional 2,061 shares during the last quarter. Finally, Algert Global LLC increased its position in TechnipFMC by 2.5% during the first quarter. Algert Global LLC now owns 776,909 shares of the oil and gas company's stock worth $24,620,000 after buying an additional 19,053 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FTI. Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. BTIG Research downgraded shares of TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Citigroup reissued a "buy" rating and issued a $41.00 price objective (up previously from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Evercore ISI raised their target price on shares of TechnipFMC from $42.00 to $46.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, Barclays lifted their target price on shares of TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $38.92.

Insider Activity

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the firm'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 sale, the director directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.80% of the company's stock.

TechnipFMC Trading Up 0.7%

NYSE FTI traded up $0.2640 during mid-day trading on Monday, hitting $36.3840. The company's stock had a trading volume of 659,005 shares, compared to its average volume of 4,316,897. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $38.05. The stock's fifty day simple moving average is $34.95 and its two-hundred day simple moving average is $31.12. The firm has a market capitalization of $14.95 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.16 and a beta of 1.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its earnings results 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 business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the business posted $0.43 EPS. The business's quarterly revenue was up 9.0% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. Research analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders 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 annualized dividend and a dividend yield of 0.5%. TechnipFMC's dividend payout ratio is presently 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.