TechnipFMC plc $FTI Shares Sold by Pinnbrook Capital Management LP

Pinnbrook Capital Management LP reduced its stake in shares of TechnipFMC plc (NYSE:FTI) by 36.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 115,333 shares of the oil and gas company’s stock after selling 66,116 shares during the quarter. Pinnbrook Capital Management LP’s holdings in TechnipFMC were worth $3,972,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. grew its position in 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 buying an additional 340 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in TechnipFMC in the 2nd quarter worth about $44,000. Financial Network Wealth Advisors LLC raised its stake in shares of TechnipFMC by 29.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company’s stock worth $48,000 after buying an additional 346 shares during the period. New York State Teachers Retirement System increased its holdings in TechnipFMC by 82.5% in the 2nd quarter. New York State Teachers Retirement System now owns 1,927 shares of the oil and gas company’s stock worth $66,000 after acquiring an additional 871 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in shares of TechnipFMC by 2,216.1% during the first quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 2,061 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling at TechnipFMC

In related news, CFO Alf Melin sold 113,760 shares of the company’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 completion of the sale, the chief financial officer directly owned 241,140 shares of the company’s stock, valued at $9,310,415.40. This represents a 32.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas J. Pferdehirt sold 632,539 shares of the firm’s stock in a transaction on 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. The trade was a 17.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 876,603 shares of company stock worth $33,832,588 over the last three months. Insiders own 1.80% of the company’s stock.

TechnipFMC Stock Up 1.4%

Shares of NYSE:FTI opened at $43.77 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $44.34. The firm has a market capitalization of $17.70 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The firm’s 50-day moving average is $39.62 and its two-hundred day moving average is $35.79.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.10. The business had revenue of $2.65 billion for 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 company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. Analysts predict that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC announced that its Board of Directors has authorized a stock buyback 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

TechnipFMC Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FTI shares. Piper Sandler increased their price target on TechnipFMC from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. 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 note on Friday, October 10th. Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of TechnipFMC in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.36.

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.