TechnipFMC plc $FTI Stock Position Decreased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in shares of TechnipFMC plc (NYSE:FTI) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,327 shares of the oil and gas company’s stock after selling 983 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in TechnipFMC were worth $5,591,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FTI. GAMMA Investing LLC boosted its stake 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 acquiring an additional 614 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of TechnipFMC during the 1st quarter worth $205,000. Illinois Municipal Retirement Fund bought a new stake in shares of TechnipFMC during the 1st quarter worth $743,000. Lisanti Capital Growth LLC boosted its stake in shares of TechnipFMC by 38.0% during the 1st quarter. Lisanti Capital Growth LLC now owns 49,380 shares of the oil and gas company’s stock worth $1,565,000 after acquiring an additional 13,605 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of TechnipFMC by 2.4% during the 1st quarter. KBC Group NV now owns 18,129 shares of the oil and gas company’s stock worth $575,000 after acquiring an additional 429 shares in the last quarter. 96.58% of the stock is owned by institutional investors.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, CEO Douglas J. Pferdehirt sold 632,539 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $38.62, for a total transaction of $24,428,656.18. Following the transaction, the chief executive officer directly owned 2,917,054 shares in the company, valued at $112,656,625.48. This trade represents a 17.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thierry Conti sold 50,000 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.64, for a total value of $1,932,000.00. Following the transaction, the insider owned 56,352 shares in the company, valued at approximately $2,177,441.28. This trade represents a 47.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 876,603 shares of company stock worth $33,832,588 over the last three months. Corporate insiders own 1.80% of the company’s stock.

TechnipFMC Price Performance

FTI opened at $39.51 on Monday. The stock has a market cap of $15.98 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 1.16 and a beta of 1.04. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $41.35. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average price of $37.95 and a 200 day moving average price of $34.13.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. Analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC declared that its board has authorized a stock buyback plan 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 repurchase up to 13.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

TechnipFMC Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently commented on FTI. BNP Paribas set a $47.00 target price on TechnipFMC and gave the stock an “outperform” rating in a research report on Friday, October 10th. Susquehanna raised their target price on TechnipFMC from $40.00 to $45.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. BNP Paribas Exane raised TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 target price for the company in a research report on Friday, October 10th. Royal Bank Of Canada raised their target price on TechnipFMC from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Finally, Barclays raised their target price on TechnipFMC from $45.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $42.00.

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.