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 position in TechnipFMC plc (NYSE:FTI - Free Report) by 5.8% during the 1st quarter, according to its most recent filing with the SEC. The firm 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 about 0.22% of TechnipFMC worth $28,654,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Strs Ohio purchased a new stake in shares of TechnipFMC in the 1st quarter worth about $8,113,000. Geneos Wealth Management Inc. lifted 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 acquiring an additional 340 shares during the period. Focus Partners Wealth lifted its holdings in shares of TechnipFMC by 27.2% during the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company's stock worth $764,000 after acquiring an additional 5,161 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of TechnipFMC by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,139,326 shares of the oil and gas company's stock worth $36,105,000 after acquiring an additional 53,206 shares during the period. Finally, Empowered Funds LLC acquired a new stake in TechnipFMC during the 1st quarter worth approximately $7,282,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FTI shares. Royal Bank Of Canada increased their target price on shares of TechnipFMC from $37.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Citigroup reissued a "buy" rating and set a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. BTIG Research cut TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Evercore ISI raised their target price on TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, Sanford C. Bernstein cut TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price on the stock. in a research note on Thursday, May 22nd. 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, TechnipFMC presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.92.

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 value of $348,222.72. Following the completion of the sale, the director directly owned 62,978 shares in the company, 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 filing with the SEC, which is available through this link. Insiders own 1.80% of the company's stock.

TechnipFMC Stock Up 0.1%

NYSE FTI traded up $0.06 during trading on Thursday, reaching $39.28. 1,050,838 shares of the company's stock were exchanged, compared to its average volume of 4,728,686. The firm has a market capitalization of $16.14 billion, a PE ratio of 18.54, a P/E/G ratio of 1.25 and a beta of 1.10. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $41.29. The company's fifty day simple moving average is $36.26 and its 200-day simple moving average is $32.15.

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

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th were given a $0.05 dividend. 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 is 9.43%.

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.