TechnipFMC plc $FTI Shares Bought by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in TechnipFMC plc by 31.9% during the first quarter, owning about 386,193 shares valued at approximately $12.24 million.
• Analysts have raised their price targets for TechnipFMC, with Royal Bank of Canada increasing it from $37 to $40 and Susquehanna from $40 to $45, highlighting a generally positive outlook for the company.
• TechnipFMC reported $0.68 earnings per share for the last quarter, surpassing the consensus estimate of $0.57, driven by a revenue increase of 9.0% year-over-year to $2.53 billion.

Ieq Capital LLC grew its position in TechnipFMC plc (NYSE:FTI - Free Report) by 31.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 386,193 shares of the oil and gas company's stock after acquiring an additional 93,322 shares during the quarter. Ieq Capital LLC owned about 0.09% of TechnipFMC worth $12,238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Teachers Retirement System purchased a new position in TechnipFMC during the first quarter worth approximately $33,000. Financial Network Wealth Advisors LLC grew its stake in TechnipFMC by 29.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company's stock worth $48,000 after purchasing an additional 346 shares in the last quarter. Brooklyn Investment Group grew its stake 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 worth $68,000 after purchasing an additional 2,061 shares in the last quarter. Quarry LP grew its stake in TechnipFMC by 95.9% during the 4th quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock worth $74,000 after purchasing an additional 1,248 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of TechnipFMC by 27.0% during the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock worth $91,000 after acquiring an additional 614 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.

Insider Buying and Selling

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the firm's stock in a transaction 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 owned 62,978 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FTI has been the subject of several analyst reports. Royal Bank Of Canada upped their price objective on TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Susquehanna raised their price objective on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a research report on Friday, July 25th. Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Evercore ISI lifted their price target on TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, BTIG Research cut TechnipFMC from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.92.

TechnipFMC Stock Performance

NYSE FTI opened at $36.59 on Thursday. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The firm has a market cap of $15.04 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.16 and a beta of 1.04. The company has a 50 day moving average of $35.03 and a 200-day moving average of $31.23. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $38.05.

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 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 company had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same period last year, the firm posted $0.43 earnings per share. The business's quarterly revenue was up 9.0% compared to the same quarter last year. TechnipFMC has set its FY 2025 guidance at EPS. On average, equities analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $0.20 annualized dividend and a yield of 0.5%. TechnipFMC's dividend 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.

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