TechnipFMC plc $FTI Shares Sold by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC reduced its stake in TechnipFMC plc by 15.5%, now holding 57,105 shares valued at approximately $1.97 million.
• Wall Street analysts are optimistic, with several increasing their price targets for TechnipFMC shares, including Barclays raising it to $51.00, and Royal Bank of Canada to $40.00.
• TechnipFMC reported a 9% increase in quarterly revenue year-over-year, and earnings per share of $0.68, surpassing analyst estimates.

Exchange Traded Concepts LLC cut its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 15.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,105 shares of the oil and gas company's stock after selling 10,475 shares during the period. Exchange Traded Concepts LLC's holdings in TechnipFMC were worth $1,967,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FTI. Cetera Investment Advisers boosted its stake in TechnipFMC by 22.3% during the 4th quarter. Cetera Investment Advisers now owns 27,328 shares of the oil and gas company's stock worth $791,000 after purchasing an additional 4,979 shares during the period. Vident Advisory LLC acquired a new position in TechnipFMC in the 4th quarter valued at about $231,000. Voloridge Investment Management LLC purchased a new stake in TechnipFMC during the 4th quarter valued at approximately $6,411,000. Focus Partners Advisor Solutions LLC acquired a new stake in TechnipFMC during the 4th quarter worth approximately $221,000. Finally, Vise Technologies Inc. purchased a new position in TechnipFMC in the 4th quarter valued at $249,000. Institutional investors and hedge funds own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Barclays upped their target price on shares of TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Royal Bank Of Canada lifted their price target on TechnipFMC from $37.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Citigroup restated a "buy" rating and issued a $41.00 target price (up from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. 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. Finally, Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, TechnipFMC has an average rating of "Moderate Buy" and an average price target of $38.92.

TechnipFMC Stock Down 1.6%

FTI traded down $0.65 on Monday, reaching $38.76. The company's stock had a trading volume of 5,191,419 shares, compared to its average volume of 8,113,874. The business's 50 day moving average is $36.50 and its 200 day moving average is $32.48. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $41.29. The stock has a market cap of $15.93 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 1.26 and a beta of 1.10. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86.

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

TechnipFMC Announces Dividend

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. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, August 19th. TechnipFMC's dividend payout ratio is currently 9.43%.

Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of TechnipFMC stock in a transaction on Friday, July 25th. The shares were sold at an average price of $37.12, for a total value of $348,222.72. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.80% of the stock is owned by company insiders.

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.