TechnipFMC plc $FTI Holdings Cut by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its holdings in TechnipFMC plc by 2.0%, now owning approximately 1.8 million shares valued at $56.9 million.
• TechnipFMC's recent earnings report exceeded analysts' expectations, reporting $0.68 earnings per share against a consensus estimate of $0.57, along with a revenue increase of 9.0% year-over-year.
• Several equity analysts have increased their price targets for TechnipFMC, with Royal Bank of Canada raising its target to $40.00 and Citigroup to $41.00, reflecting a generally positive outlook on the stock.

Wellington Management Group LLP lessened its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 2.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,795,118 shares of the oil and gas company's stock after selling 36,815 shares during the quarter. Wellington Management Group LLP owned about 0.43% of TechnipFMC worth $56,887,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of FTI. Mariner LLC raised its stake in shares of TechnipFMC by 12.6% during the fourth quarter. Mariner LLC now owns 25,219 shares of the oil and gas company's stock valued at $730,000 after purchasing an additional 2,819 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in TechnipFMC by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,920,929 shares of the oil and gas company's stock valued at $142,414,000 after buying an additional 138,556 shares during the period. Tower Research Capital LLC TRC raised its position in shares of TechnipFMC by 851.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 18,412 shares of the oil and gas company's stock worth $533,000 after buying an additional 16,476 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of TechnipFMC during the 4th quarter worth about $506,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of TechnipFMC in the 4th quarter worth approximately $257,000. Institutional investors own 96.58% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Barclays raised their price objective on shares of TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Citigroup reissued a "buy" rating and issued a $41.00 price objective (up previously from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Susquehanna upped their price objective on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a report on Friday, July 25th. Sanford C. Bernstein lowered 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. Finally, BTIG Research cut shares of TechnipFMC from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $38.92.

Insiders Place Their Bets

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $37.12, for a total value of $348,222.72. Following the completion of the sale, the director directly owned 62,978 shares of the company's stock, valued at approximately $2,337,743.36. This represents a 12.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company's stock.

TechnipFMC Trading Down 0.5%

Shares of FTI stock traded down $0.20 during trading hours on Tuesday, reaching $36.24. 3,696,911 shares of the stock traded hands, compared to its average volume of 4,326,025. The company has a quick ratio of 0.86, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $14.90 billion, a PE ratio of 17.10, a PEG ratio of 1.16 and a beta of 1.04. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $38.05. The business has a fifty day moving average price of $34.99 and a 200 day moving average price of $31.16.

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

TechnipFMC Dividend Announcement

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