Caitong International Asset Management Co. Ltd Makes New Investment in TechnipFMC plc $FTI

Caitong International Asset Management Co. Ltd purchased a new stake in shares of TechnipFMC plc (NYSE:FTI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,268 shares of the oil and gas company’s stock, valued at approximately $44,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Diversified Trust Co boosted its holdings in shares of TechnipFMC by 0.8% during the second quarter. Diversified Trust Co now owns 40,830 shares of the oil and gas company’s stock valued at $1,406,000 after acquiring an additional 306 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 340 shares during the period. Financial Network Wealth Advisors LLC boosted its holdings in shares of TechnipFMC by 29.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company’s stock valued at $48,000 after acquiring an additional 346 shares during the period. Diversify Advisory Services LLC boosted its holdings in shares of TechnipFMC by 5.1% during the first quarter. Diversify Advisory Services LLC now owns 7,506 shares of the oil and gas company’s stock valued at $238,000 after acquiring an additional 362 shares during the period. Finally, Acuitas Investments LLC boosted its holdings in shares of TechnipFMC by 13.4% during the first quarter. Acuitas Investments LLC now owns 3,394 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $39.51 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average price is $37.95 and its two-hundred day moving average price is $34.08. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $41.35. The stock has a market cap of $16.24 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 1.16 and a beta of 1.04.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.65 by $0.10. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the previous year, the business earned $0.64 earnings per share. TechnipFMC’s revenue for the quarter was up 12.7% compared to the same quarter last year. TechnipFMC has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Tuesday, November 18th will be given a $0.05 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $0.20 annualized dividend and a yield of 0.5%. TechnipFMC’s payout ratio is 8.93%.

TechnipFMC announced that its board has initiated a stock buyback program on Wednesday, October 22nd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 13.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FTI. Susquehanna boosted their price target on shares of TechnipFMC from $40.00 to $45.00 and gave the company a “positive” rating in a report on Friday, July 25th. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a report on Saturday. Barclays upped their price objective on shares of TechnipFMC from $45.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Finally, Piper Sandler upped their price objective on shares of TechnipFMC from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, TechnipFMC currently has a consensus rating of “Buy” and a consensus price target of $42.00.

Insiders Place Their Bets

In other TechnipFMC news, CEO Douglas J. Pferdehirt sold 80,304 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $38.35, for a total transaction of $3,079,658.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Alf Melin sold 113,760 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $38.61, for a total value of $4,392,273.60. Following the sale, the chief financial officer owned 241,140 shares in the company, valued at approximately $9,310,415.40. The trade was a 32.05% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 876,603 shares of company stock worth $33,832,588. 1.80% of the stock is owned by corporate insiders.

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.