Voleon Capital Management LP Sells 9,093 Shares of TechnipFMC plc $FTI

Key Points

• Voleon Capital Management LP reduced its stake in TechnipFMC plc by 55.2%, selling 9,093 shares and now holding 7,366 shares valued at approximately $233,000.
• Goldman Sachs Group Inc. increased its holdings in TechnipFMC by 21.6% during the same quarter, now owning over 5 million shares worth $162 million.
• TechnipFMC recently reported earnings of $0.68 per share, surpassing analyst expectations, with a revenue of $2.53 billion, reflecting a 9% year-over-year growth.

Voleon Capital Management LP lessened its position in TechnipFMC plc (NYSE:FTI - Free Report) by 55.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,366 shares of the oil and gas company's stock after selling 9,093 shares during the quarter. Voleon Capital Management LP's holdings in TechnipFMC were worth $233,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in TechnipFMC by 21.6% in the first quarter. Goldman Sachs Group Inc. now owns 5,124,326 shares of the oil and gas company's stock valued at $162,390,000 after acquiring an additional 910,891 shares during the last quarter. Teza Capital Management LLC boosted its position in TechnipFMC by 14.1% during the first quarter. Teza Capital Management LLC now owns 42,290 shares of the oil and gas company's stock valued at $1,340,000 after buying an additional 5,235 shares during the period. Nippon Life Global Investors Americas Inc. boosted its position in TechnipFMC by 42.9% during the first quarter. Nippon Life Global Investors Americas Inc. now owns 11,250 shares of the oil and gas company's stock valued at $357,000 after buying an additional 3,380 shares during the period. Interval Partners LP purchased a new stake in shares of TechnipFMC during the first quarter worth about $5,409,000. Finally, Gotham Asset Management LLC boosted its holdings in shares of TechnipFMC by 8.1% during the first quarter. Gotham Asset Management LLC now owns 407,542 shares of the oil and gas company's stock worth $12,915,000 after purchasing an additional 30,433 shares during the period. Institutional investors own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FTI shares. Sanford C. Bernstein lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price for the company. in a report on Thursday, May 22nd. Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Barclays increased their price target 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. Citigroup reissued a "buy" rating and issued a $41.00 price target (up from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Finally, Evercore ISI increased their price target on shares of TechnipFMC from $42.00 to $46.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $38.92.

TechnipFMC Stock Down 1.2%

Shares of NYSE FTI traded down $0.47 on Friday, reaching $39.83. 5,681,535 shares of the company's stock traded hands, compared to its average volume of 7,086,263. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $41.29. The business's 50 day simple moving average is $36.02 and its two-hundred day simple moving average is $31.94. The company has a market cap of $16.37 billion, a price-to-earnings ratio of 18.79, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. 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 (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 for the quarter, beating 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 business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the firm earned $0.43 earnings per share. 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 research analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Tuesday, August 19th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. TechnipFMC's dividend payout ratio (DPR) is 9.43%.

Insider Buying and Selling at TechnipFMC

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the firm's stock in a transaction that occurred on 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 sale, the director owned 62,978 shares of the company's stock, valued at $2,337,743.36. This trade represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by company insiders.

TechnipFMC 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.