TechnipFMC plc $FTI Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its position in TechnipFMC plc (NYSE:FTI) by 56.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,935 shares of the oil and gas company’s stock after selling 24,531 shares during the period. Bessemer Group Inc.’s holdings in TechnipFMC were worth $652,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC acquired a new position in shares of TechnipFMC in the second quarter valued at about $1,233,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of TechnipFMC in the second quarter worth about $44,000. R Squared Ltd boosted its stake in shares of TechnipFMC by 72.8% in the second quarter. R Squared Ltd now owns 20,204 shares of the oil and gas company’s stock worth $696,000 after buying an additional 8,514 shares during the last quarter. Ethic Inc. purchased a new stake in shares of TechnipFMC in the second quarter worth about $847,000. Finally, Parcion Private Wealth LLC purchased a new stake in shares of TechnipFMC in the second quarter worth about $201,000. 96.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FTI. Piper Sandler upped their target price on TechnipFMC from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Evercore ISI upped their target price on TechnipFMC from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. UBS Group restated an “outperform” rating on shares of TechnipFMC in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on TechnipFMC from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of TechnipFMC in a research note on Wednesday, October 8th. Two investment 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. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $44.64.

Insider Activity

In other news, insider Thierry Conti sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was 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 $2,177,441.28. This trade represents a 47.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas J. Pferdehirt sold 632,539 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $38.62, for a total value of $24,428,656.18. Following the completion of the transaction, the chief executive officer owned 2,917,054 shares in the company, valued at approximately $112,656,625.48. This trade represents a 17.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 876,603 shares of company stock worth $33,832,588 over the last quarter. 1.80% of the stock is currently owned by corporate insiders.

TechnipFMC Stock Performance

Shares of FTI stock opened at $41.37 on Friday. The company has a market capitalization of $16.73 billion, a P/E ratio of 18.47, a P/E/G ratio of 1.20 and a beta of 1.04. The business’s 50 day moving average is $38.54 and its two-hundred day moving average is $34.69. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $42.65.

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

TechnipFMC Dividend Announcement

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

TechnipFMC declared that its board has authorized a stock repurchase plan on Wednesday, October 22nd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 13.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.