Royal Bank of Canada Sells 89,224 Shares of TechnipFMC plc $FTI

Key Points

• Royal Bank of Canada reduced its stake in TechnipFMC by 14.2%, selling 89,224 shares, and now holds approximately 0.13% of the company valued at $17,052,000.
• TechnipFMC recently reported earnings of $0.68 per share, exceeding expectations, with quarterly revenue of $2.53 billion, representing a 9.0% year-over-year increase.
• The company has announced a quarterly dividend of $0.05 per share, reflecting an annualized rate with a dividend yield of 0.5%.

Royal Bank of Canada reduced its position in TechnipFMC plc (NYSE:FTI - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 538,059 shares of the oil and gas company's stock after selling 89,224 shares during the quarter. Royal Bank of Canada owned approximately 0.13% of TechnipFMC worth $17,052,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Graham Capital Management L.P. lifted its holdings in shares of TechnipFMC by 12.7% during the first quarter. Graham Capital Management L.P. now owns 179,737 shares of the oil and gas company's stock valued at $5,696,000 after acquiring an additional 20,243 shares during the period. Energy Income Partners LLC lifted its holdings in shares of TechnipFMC by 1.0% during the first quarter. Energy Income Partners LLC now owns 240,478 shares of the oil and gas company's stock valued at $7,621,000 after acquiring an additional 2,424 shares during the period. Nomura Holdings Inc. bought a new position in shares of TechnipFMC during the first quarter valued at $500,000. Vident Advisory LLC raised its holdings in shares of TechnipFMC by 15.6% in the first quarter. Vident Advisory LLC now owns 9,218 shares of the oil and gas company's stock valued at $292,000 after buying an additional 1,241 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its holdings in shares of TechnipFMC by 3.7% in the first quarter. Driehaus Capital Management LLC now owns 1,750,068 shares of the oil and gas company's stock valued at $55,460,000 after buying an additional 62,633 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

Insider Buying and Selling at TechnipFMC

In related 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 value of $348,222.72. Following the completion of the transaction, the director directly 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.

TechnipFMC Stock Down 2.0%

FTI stock traded down $0.79 during mid-day trading on Monday, hitting $39.06. 6,277,155 shares of the company were exchanged, compared to its average volume of 7,221,165. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.10. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $41.29. The firm's 50 day simple moving average is $36.11 and its 200 day simple moving average is $32.06. The firm has a market cap of $16.05 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.27 and a beta of 1.10.

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

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th were paid 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 (DPR) is currently 9.43%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FTI shares. Royal Bank Of Canada lifted their price target on TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Citigroup reaffirmed a "buy" rating and issued a $41.00 price target (up from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Barclays lifted their price target on TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Sanford C. Bernstein cut TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target for the company. in a report on Thursday, May 22nd. Finally, Susquehanna lifted their price target on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a 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 assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.