TechnipFMC plc $FTI Stock: Sumitomo Mitsui Trust Group Inc. Raises Stake

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 195.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,791,873 shares of the oil and gas company's stock after buying an additional 1,847,158 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.71% of TechnipFMC worth $189,624,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Focus Partners Advisor Solutions LLC purchased a new stake in TechnipFMC in the 2nd quarter worth approximately $3,470,000. Chase Investment Counsel Corp bought a new position in TechnipFMC in the 2nd quarter valued at $12,397,000. Globeflex Capital L P purchased a new position in shares of TechnipFMC during the 2nd quarter valued at $1,011,000. Proficio Capital Partners LLC purchased a new position in shares of TechnipFMC during the 2nd quarter valued at $1,301,000. Finally, Raiffeisen Bank International AG bought a new position in shares of TechnipFMC in the second quarter worth $2,337,000. 96.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FTI shares. Weiss Ratings downgraded TechnipFMC from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday. Citigroup boosted their target price on TechnipFMC from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, September 15th. Zacks Research upgraded TechnipFMC from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 5th. Barclays lowered their price target on TechnipFMC from $87.00 to $86.00 and set an "overweight" rating on the stock in a report on Thursday, October 15th. Finally, UBS Group began coverage on TechnipFMC in a research report on Monday, October 12th. They set a "buy" rating and a $89.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, TechnipFMC currently has an average rating of "Buy" and an average target price of $74.83.

Insider Buying and Selling

In other TechnipFMC news, insider Thierry Conti sold 6,000 shares of the company's stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $71.85, for a total value of $431,100.00. Following the completion of the sale, the insider owned 85,813 shares of the company's stock, valued at $6,165,664.05. This represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Mullins purchased 6,365 shares of the firm's stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the purchase, the director directly owned 8,070 shares of the company's stock, valued at approximately $633,898.50. This represents a 373.31% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 1.40% of the company's stock.

Key Headlines Impacting TechnipFMC

Here are the key news stories impacting TechnipFMC this week:

• Positive Sentiment: Material earnings and revenue beats: TechnipFMC reported adjusted earnings of $1.05 per share, well above the $0.88 consensus estimate and up from $0.75 a year earlier. Revenue reached $2.90 billion, exceeding the $2.79 billion forecast and increasing 9.4% year over year. TechnipFMC third-quarter earnings results
• Positive Sentiment: Strong operating performance: The quarter featured an 11.28% net margin and 36.54% return on equity. Management commentary and the earnings presentation highlighted continued momentum in the business and expectations for a sustained, long deepwater cycle—an important demand driver for TechnipFMC’s subsea services and equipment. TechnipFMC deepwater cycle outlook
• Positive Sentiment: Improved growth narrative: The earnings call and presentation suggest that offshore energy investment is supporting TechnipFMC’s order and revenue outlook. Investors appear encouraged that quarterly growth is being supported by durable project activity rather than only short-term cost controls. TechnipFMC Q3 earnings call transcript
• Neutral Sentiment: Valuation remains a consideration: Articles describe FTI as potentially undervalued under a growth-at-a-reasonable-price strategy. However, the stock trades at roughly 23.9 times earnings after a substantial one-year advance, so further gains may depend on continued earnings growth and execution. TechnipFMC valuation analysis

TechnipFMC Stock Performance

NYSE FTI opened at $68.70 on Monday. TechnipFMC plc has a 52-week low of $41.06 and a 52-week high of $80.70. The company has a fifty day moving average of $72.32 and a 200-day moving average of $68.99. The company has a market capitalization of $26.71 billion, a P/E ratio of 21.60, a P/E/G ratio of 1.09 and a beta of 0.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 1.09.

TechnipFMC (NYSE:FTI - Get Free Report) last released its earnings results on Thursday, October 29th. The oil and gas company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.17. TechnipFMC had a return on equity of 39.82% and a net margin of 12.04%. The business had revenue of $2.90 billion for the quarter, compared to analysts' expectations of $2.79 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The firm's revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts predict that TechnipFMC plc will post 3.23 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Tuesday, November 17th will be given a $0.05 dividend. The ex-dividend date is Tuesday, November 17th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC's payout ratio is presently 6.29%.

TechnipFMC Company Profile

TechnipFMC plc NYSE: FTI is an energy technology and services company that designs, manufactures and delivers equipment and integrated solutions for the exploration, development and production of oil and natural gas resources. The company serves energy operators, engineering and construction firms, and other participants across the global energy industry.

TechnipFMC operates through two principal areas: Subsea and Surface Technologies. Its subsea business provides subsea production systems, subsea services, installation solutions and related technologies used to develop offshore fields.

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