Voya Investment Management LLC Sells 55,406 Shares of TechnipFMC plc $FTI

Key Points

• Voya Investment Management LLC reduced its ownership in TechnipFMC by 5.8%, selling 55,406 shares, and now holds approximately 0.22% of the company valued at $28.65 million.
• TechnipFMC reported an earnings per share (EPS) of $0.68 for the latest quarter, exceeding analysts' expectations by $0.11, with a revenue of $2.53 billion.
• The firm declared a quarterly dividend of $0.05 per share, resulting in an annualized dividend of $0.20 and a yield of 0.5%.

Voya Investment Management LLC reduced its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 904,189 shares of the oil and gas company's stock after selling 55,406 shares during the quarter. Voya Investment Management LLC owned 0.22% of TechnipFMC worth $28,654,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FTI. New York State Teachers Retirement System acquired a new stake in shares of TechnipFMC during the 1st quarter worth $33,000. Geneos Wealth Management Inc. grew its holdings in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 340 shares in the last quarter. Financial Network Wealth Advisors LLC grew its holdings in shares of TechnipFMC by 29.7% during 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 purchasing an additional 346 shares in the last quarter. Brooklyn Investment Group grew its holdings in shares of TechnipFMC by 2,216.1% during the 1st quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company's stock worth $68,000 after purchasing an additional 2,061 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of TechnipFMC by 27.0% during the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock worth $91,000 after purchasing an additional 614 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Evercore ISI increased their target price on TechnipFMC from $42.00 to $46.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Susquehanna upped their price objective on TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Citigroup restated a "buy" rating and set a $41.00 price objective (up from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Sanford C. Bernstein downgraded 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. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.92.

TechnipFMC Trading Down 2.0%

TechnipFMC stock traded down $0.79 during trading hours on Monday, hitting $39.06. The stock had a trading volume of 6,277,155 shares, compared to its average volume of 7,221,165. 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 cap of $16.05 billion, a price-to-earnings ratio of 18.42, 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 $41.29. The business's 50 day simple moving average is $36.11 and its 200-day simple moving average is $32.06.

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 for the quarter, beating the consensus estimate of $0.57 by $0.11. The company had revenue of $2.53 billion during 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 business's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. On average, equities analysts predict that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. TechnipFMC's dividend payout ratio is presently 9.43%.

Insider Buying and Selling at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $37.12, for a total value of $348,222.72. Following the completion of the sale, the director owned 62,978 shares of the company's stock, valued at approximately $2,337,743.36. This represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company's stock.

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.