TechnipFMC plc $FTI Shares Sold by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC significantly reduced its stake in TechnipFMC plc by 61.2%, selling over 500,000 shares and retaining about 318,720 shares valued at approximately $10.1 million.
• Multiple institutional investors adjusted their positions during the first quarter, with Graham Capital Management increasing their stake by 12.7% and Driehaus Capital Management boosting theirs by 3.7%.
• TechnipFMC recently reported quarterly earnings that exceeded analyst expectations, with $0.68 earnings per share and a revenue of $2.53 billion, prompting updated price targets from various equity analysts.

Cubist Systematic Strategies LLC lowered its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 61.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 318,720 shares of the oil and gas company's stock after selling 503,534 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.08% of TechnipFMC worth $10,100,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. New York State Teachers Retirement System purchased a new position in TechnipFMC in the 1st quarter worth approximately $33,000. Financial Network Wealth Advisors LLC boosted its holdings in TechnipFMC by 29.7% in 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 acquiring an additional 346 shares during the period. Brooklyn Investment Group boosted its holdings in TechnipFMC by 2,216.1% in the 1st quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company's stock worth $68,000 after acquiring an additional 2,061 shares during the period. Farther Finance Advisors LLC boosted its holdings 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 worth $92,000 after acquiring an additional 2,219 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in TechnipFMC by 27.0% in 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 during the period. Institutional investors and hedge funds own 96.58% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FTI. BTIG Research cut TechnipFMC from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Sanford C. Bernstein cut TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price for the company. in a research note on Thursday, May 22nd. Citigroup reissued a "buy" rating and set a $41.00 price target (up from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Royal Bank Of Canada upped their price target on TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Susquehanna upped their price target on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a research report on Friday, July 25th. One equities research 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. According to MarketBeat.com, TechnipFMC presently has an average rating of "Moderate Buy" and an average target price of $38.92.

TechnipFMC Stock Performance

FTI stock traded down $0.75 during mid-day trading on Friday, reaching $38.90. The company had a trading volume of 9,196,298 shares, compared to its average volume of 3,136,226. 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 $15.99 billion, a P/E ratio of 18.35, a P/E/G ratio of 1.27 and a beta of 1.10. TechnipFMC plc has a one year low of $22.11 and a one year high of $39.85. The stock's 50-day simple moving average is $35.49 and its two-hundred day simple moving average is $31.57.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its 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. The company had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.49 billion. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%.The firm's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $0.43 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. Research analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis 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 9.43%.

Insider Activity at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $37.12, for a total transaction of $348,222.72. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.80% of the company's stock.

TechnipFMC Company 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.