Driehaus Capital Management LLC Acquires 62,633 Shares of TechnipFMC plc $FTI

Key Points

• Driehaus Capital Management LLC increased its stake in TechnipFMC plc by 3.7%, now holding approximately 1,750,068 shares valued at $55.46 million.
• Several institutional investors, including Ameriprise Financial and Invesco Ltd., have raised their positions in TechnipFMC, highlighting strong institutional interest with 96.58% of shares owned by such investors.
• TechnipFMC recently announced a quarterly dividend of $0.05, set to be paid on September 3rd, reflecting a low payout ratio of 9.43% and a modest yield of 0.5%.

Driehaus Capital Management LLC lifted its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,750,068 shares of the oil and gas company's stock after purchasing an additional 62,633 shares during the quarter. Driehaus Capital Management LLC owned 0.42% of TechnipFMC worth $55,460,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FTI. New York State Teachers Retirement System acquired a new position in TechnipFMC during the first quarter worth $33,000. Financial Network Wealth Advisors LLC grew 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 valued at $48,000 after acquiring an additional 346 shares in the last quarter. Brooklyn Investment Group raised its holdings in TechnipFMC by 2,216.1% during the first quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company's stock worth $68,000 after acquiring an additional 2,061 shares in the last quarter. Quarry LP boosted its position in TechnipFMC by 95.9% during the fourth quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock valued at $74,000 after purchasing an additional 1,248 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in TechnipFMC by 27.0% in the first quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock valued at $91,000 after purchasing an additional 614 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of TechnipFMC 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FTI shares. Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Sanford C. Bernstein lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a report on Thursday, May 22nd. Evercore ISI lifted their target price on TechnipFMC from $42.00 to $46.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Royal Bank Of Canada increased their price target on TechnipFMC from $37.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Finally, Citigroup reiterated a "buy" rating and set a $41.00 price objective (up from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. One 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $38.92.

TechnipFMC Price Performance

NYSE:FTI traded up $0.79 during midday trading on Tuesday, hitting $37.55. The company had a trading volume of 3,433,650 shares, compared to its average volume of 4,284,792. The stock's fifty day moving average price is $35.15 and its 200-day moving average price is $31.36. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $38.05. 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 company has a market capitalization of $15.43 billion, a PE ratio of 17.71, a P/E/G ratio of 1.18 and a beta of 1.10.

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

TechnipFMC Announces Dividend

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

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.