Gotham Asset Management LLC Buys 30,433 Shares of TechnipFMC plc $FTI

Key Points

• Gotham Asset Management LLC increased its stake in TechnipFMC plc by 8.1%, now owning 407,542 shares valued at approximately $12.9 million.
• TechnipFMC reported $0.68 EPS for the last quarter, exceeding analysts' expectations, with a revenue increase of 9.0% year-over-year.
• Several investment firms upgraded their ratings and price targets for TechnipFMC, with Citigroup setting a new target of $41.00 and Barclays raising it to $51.00.

Gotham Asset Management LLC grew its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 8.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 407,542 shares of the oil and gas company's stock after acquiring an additional 30,433 shares during the period. Gotham Asset Management LLC owned 0.10% of TechnipFMC worth $12,915,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its holdings in TechnipFMC by 9.0% in the 1st quarter. Ameriprise Financial Inc. now owns 18,030,976 shares of the oil and gas company's stock worth $571,583,000 after purchasing an additional 1,492,746 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in TechnipFMC by 2.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,952,064 shares of the oil and gas company's stock worth $315,381,000 after purchasing an additional 202,599 shares during the period. AQR Capital Management LLC raised its holdings in TechnipFMC by 111.4% in the 1st quarter. AQR Capital Management LLC now owns 8,735,697 shares of the oil and gas company's stock worth $273,078,000 after purchasing an additional 4,602,939 shares during the period. Invesco Ltd. raised its stake in shares of TechnipFMC by 18.0% in the first quarter. Invesco Ltd. now owns 7,458,847 shares of the oil and gas company's stock worth $236,371,000 after buying an additional 1,136,554 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of TechnipFMC by 3.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,761,185 shares of the oil and gas company's stock worth $119,192,000 after buying an additional 111,644 shares during the period. 96.58% of the stock is currently owned by institutional investors.

Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of TechnipFMC stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $37.12, for a total value of $348,222.72. Following the sale, the director owned 62,978 shares of the company's stock, valued at $2,337,743.36. The trade was a 12.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup reaffirmed 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. 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 note on Friday, July 25th. Sanford C. Bernstein downgraded shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price objective on the stock. in a research report on Thursday, May 22nd. 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 report on Friday, July 25th. Finally, Royal Bank Of Canada raised their price objective on shares of TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. One equities research 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. According to data from MarketBeat, TechnipFMC currently has an average rating of "Moderate Buy" and a consensus price target of $38.92.

TechnipFMC Price Performance

NYSE FTI traded down $0.21 on Friday, reaching $40.10. The company had a trading volume of 1,927,083 shares, compared to its average volume of 4,721,039. 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 stock has a market capitalization of $16.48 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 1.31 and a beta of 1.10. The firm's 50 day moving average price is $35.92 and its 200 day moving average price is $31.85. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $41.29.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) 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 company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the firm posted $0.43 EPS. TechnipFMC's revenue for the quarter was up 9.0% compared to the same quarter last year. TechnipFMC has set its FY 2025 guidance at EPS. As a group, equities analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.5%. TechnipFMC's payout ratio 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.