Lansforsakringar Fondforvaltning AB publ Reduces Stake in TechnipFMC plc $FTI

Key Points

• Lansforsakringar Fondforvaltning AB publ has reduced its stake in TechnipFMC by 29.3%, selling 125,393 shares, which leaves it with 0.07% ownership valued at approximately $9.6 million.
• Despite the stake reduction, other investors have increased their holdings in TechnipFMC, with some growing their stakes by over 2,200% in the first quarter.
• TechnipFMC reported earnings of $0.68 per share for the last quarter, surpassing expectations, and declared a quarterly dividend of $0.05 to be paid in September.

Lansforsakringar Fondforvaltning AB publ reduced its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 29.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 303,042 shares of the oil and gas company's stock after selling 125,393 shares during the quarter. Lansforsakringar Fondforvaltning AB publ owned 0.07% of TechnipFMC worth $9,603,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FTI. New York State Teachers Retirement System acquired a new position in TechnipFMC during the 1st quarter valued at about $33,000. Financial Network Wealth Advisors LLC boosted its position in shares of TechnipFMC by 29.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company's stock valued at $48,000 after buying an additional 346 shares during the last quarter. Brooklyn Investment Group grew 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 buying an additional 2,061 shares in the last quarter. Farther Finance Advisors LLC raised its position in TechnipFMC by 346.7% in the 1st quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock valued at $92,000 after buying an additional 2,219 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in TechnipFMC by 27.0% during the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock valued at $91,000 after acquiring an additional 614 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Stock Performance

TechnipFMC stock traded up $1.49 during trading on Thursday, hitting $39.74. The stock had a trading volume of 2,322,002 shares, compared to its average volume of 4,309,428. 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's 50 day moving average is $35.31 and its two-hundred day moving average is $31.45. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $39.72. The stock has a market cap of $16.33 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth 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, beating the consensus estimate of $0.57 by $0.11. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%.The business's revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. As a group, analysts predict that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

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

Insider Buying and Selling at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the business'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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on FTI shares. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Sanford C. Bernstein downgraded shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price objective for the company. in a research report on Thursday, May 22nd. Barclays lifted 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. Susquehanna upped their target price on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada boosted their price objective on TechnipFMC from $37.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.92.

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.