Vanguard Group Inc. Lowers Stock Position in TechnipFMC plc $FTI

Vanguard Group Inc. trimmed its position in TechnipFMC plc (NYSE:FTI) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,801,793 shares of the oil and gas company’s stock after selling 719,840 shares during the quarter. Vanguard Group Inc. owned about 9.68% of TechnipFMC worth $1,370,774,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FTI. Credit Agricole S A raised its position in shares of TechnipFMC by 170.3% during the 1st quarter. Credit Agricole S A now owns 94,097 shares of the oil and gas company’s stock valued at $2,982,000 after purchasing an additional 59,281 shares during the period. OMNI 360 Wealth Inc. bought a new position in TechnipFMC in the 2nd quarter worth $226,000. Charles Schwab Investment Management Inc. increased its stake in TechnipFMC by 3.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,761,185 shares of the oil and gas company’s stock worth $119,192,000 after buying an additional 111,644 shares in the last quarter. Entropy Technologies LP purchased a new stake in TechnipFMC in the 1st quarter worth $1,056,000. Finally, Raymond James Financial Inc. raised its holdings in TechnipFMC by 26.2% during the first quarter. Raymond James Financial Inc. now owns 399,126 shares of the oil and gas company’s stock valued at $12,648,000 after acquiring an additional 82,902 shares during the period. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Up 1.5%

Shares of FTI opened at $44.16 on Friday. The stock has a market capitalization of $17.86 billion, a PE ratio of 19.71, a P/E/G ratio of 1.20 and a beta of 1.00. The company’s fifty day moving average is $39.99 and its 200 day moving average is $36.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $45.01.

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

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

TechnipFMC Dividend Announcement

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

Insider Buying and Selling at TechnipFMC

In related news, CFO Alf Melin sold 113,760 shares of the stock in a transaction on Monday, September 22nd. The stock was 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 in the company, valued at approximately $9,310,415.40. This represents a 32.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thierry Conti sold 50,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider owned 56,352 shares of the company’s stock, valued at approximately $2,177,441.28. This represents a 47.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 876,603 shares of company stock worth $33,832,588 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. UBS Group reiterated an “outperform” rating on shares of TechnipFMC in a research report on Tuesday, October 28th. Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. BNP Paribas set a $47.00 price objective on shares of TechnipFMC and gave the company an “outperform” rating in a report on Friday, October 10th. Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada upped their target price on shares of TechnipFMC from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $45.36.

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.