Savant Capital LLC Sells 10,208 Shares of TechnipFMC plc $FTI

Savant Capital LLC lessened its position in shares of TechnipFMC plc (NYSE:FTI) by 6.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 140,282 shares of the oil and gas company’s stock after selling 10,208 shares during the quarter. Savant Capital LLC’s holdings in TechnipFMC were worth $4,831,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. AQR Capital Management LLC boosted its position in shares of TechnipFMC by 111.4% during the 1st quarter. AQR Capital Management LLC now owns 8,735,697 shares of the oil and gas company’s stock valued at $273,078,000 after acquiring an additional 4,602,939 shares during the last quarter. Boston Partners raised its stake in TechnipFMC by 648.3% during the first quarter. Boston Partners now owns 2,630,793 shares of the oil and gas company’s stock valued at $83,281,000 after purchasing an additional 2,279,247 shares in the last quarter. Nuveen LLC bought a new position in TechnipFMC during the first quarter valued at $64,217,000. Encompass Capital Advisors LLC purchased a new position in shares of TechnipFMC in the 1st quarter worth $47,535,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of TechnipFMC by 9.0% in the 1st quarter. Ameriprise Financial Inc. now owns 18,030,976 shares of the oil and gas company’s stock worth $571,583,000 after buying an additional 1,492,746 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Trading Up 0.9%

FTI opened at $42.78 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13. The stock’s 50 day moving average price is $39.11 and its 200-day moving average price is $35.29. TechnipFMC plc has a one year low of $22.11 and a one year high of $43.09. The stock has a market cap of $17.30 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 1.20 and a beta of 1.00.

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. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the company earned $0.64 EPS. TechnipFMC’s quarterly revenue was up 12.7% compared to the same quarter last year. TechnipFMC has set its FY 2025 guidance at EPS. On average, equities analysts forecast that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

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

TechnipFMC announced that its Board of Directors has initiated a share repurchase plan on Wednesday, October 22nd that permits the company to repurchase $2.00 billion in 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 usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Evercore ISI increased their price target on shares of TechnipFMC from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Piper Sandler raised their price objective on TechnipFMC from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of TechnipFMC in a report on Wednesday, October 8th. BNP Paribas set a $47.00 target price on TechnipFMC and gave the company an “outperform” rating in a research report on Friday, October 10th. Finally, BNP Paribas Exane upgraded TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 price target for the company in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, TechnipFMC has an average rating of “Buy” and a consensus price target of $45.36.

Insider Transactions at TechnipFMC

In other news, insider Thierry Conti sold 50,000 shares of the company’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 directly owned 56,352 shares in the company, valued at approximately $2,177,441.28. This represents a 47.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Alf Melin sold 113,760 shares of TechnipFMC stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.61, for a total transaction of $4,392,273.60. Following the sale, the chief financial officer owned 241,140 shares of the company’s stock, valued at $9,310,415.40. The trade was a 32.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 876,603 shares of company stock worth $33,832,588. 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.