TechnipFMC plc $FTI Stock: VestGen Advisors LLC Cuts Stake

VestGen Advisors LLC cut its stake in TechnipFMC plc (NYSE:FTI) by 64.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,760 shares of the oil and gas company’s stock after selling 15,780 shares during the period. VestGen Advisors LLC’s holdings in TechnipFMC were worth $595,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Triasima Portfolio Management inc. lifted its stake in TechnipFMC by 1.8% in the third quarter. Triasima Portfolio Management inc. now owns 8,490 shares of the oil and gas company’s stock worth $577,000 after acquiring an additional 150 shares during the period. ANB Bank raised its position in shares of TechnipFMC by 3.4% in the 1st quarter. ANB Bank now owns 4,903 shares of the oil and gas company’s stock worth $339,000 after acquiring an additional 161 shares in the last quarter. PFG Investments LLC boosted its position in TechnipFMC by 2.4% during the first quarter. PFG Investments LLC now owns 7,160 shares of the oil and gas company’s stock valued at $495,000 after purchasing an additional 165 shares in the last quarter. SYM FINANCIAL Corp raised its holdings in TechnipFMC by 2.2% in the third quarter. SYM FINANCIAL Corp now owns 7,627 shares of the oil and gas company’s stock worth $518,000 after purchasing an additional 167 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of TechnipFMC by 7.3% during the third quarter. Signaturefd LLC now owns 3,546 shares of the oil and gas company’s stock valued at $241,000 after buying an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Transactions at TechnipFMC

In other TechnipFMC news, insider Thierry Conti sold 6,000 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $71.85, for a total value of $431,100.00. Following the sale, the insider directly owned 85,813 shares of the company’s stock, valued at approximately $6,165,664.05. This trade represents a 6.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Mullins bought 6,365 shares of TechnipFMC stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the acquisition, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. The trade was a 373.31% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 1.40% of the company’s stock.

TechnipFMC Price Performance

Shares of FTI stock opened at $68.70 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.09 and a quick ratio of 0.86. The company has a market capitalization of $26.71 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.09 and a beta of 0.89. The firm’s 50-day moving average is $72.32 and its two-hundred day moving average is $68.99. TechnipFMC plc has a 12 month low of $41.06 and a 12 month high of $80.70.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.17. TechnipFMC had a return on equity of 39.82% and a net margin of 12.04%. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same period last year, the firm earned $0.75 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts predict that TechnipFMC plc will post 3.23 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Tuesday, November 17th 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 0.3%. The ex-dividend date of this dividend is Tuesday, November 17th. TechnipFMC’s dividend payout ratio is 6.29%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FTI. Barclays lowered their target price on shares of TechnipFMC from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, October 15th. Susquehanna dropped their price target on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Weiss Ratings cut TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday. Wall Street Zen lowered TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, UBS Group initiated coverage on shares of TechnipFMC in a research report on Monday, October 12th. They set a “buy” rating and a $89.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $74.83.

TechnipFMC News Summary

Here are the key news stories impacting TechnipFMC this week:

• Positive Sentiment: Material earnings and revenue beats: TechnipFMC reported adjusted earnings of $1.05 per share, well above the $0.88 consensus estimate and up from $0.75 a year earlier. Revenue reached $2.90 billion, exceeding the $2.79 billion forecast and increasing 9.4% year over year. TechnipFMC third-quarter earnings results
• Positive Sentiment: Strong operating performance: The quarter featured an 11.28% net margin and 36.54% return on equity. Management commentary and the earnings presentation highlighted continued momentum in the business and expectations for a sustained, long deepwater cycle—an important demand driver for TechnipFMC’s subsea services and equipment. TechnipFMC deepwater cycle outlook
• Positive Sentiment: Improved growth narrative: The earnings call and presentation suggest that offshore energy investment is supporting TechnipFMC’s order and revenue outlook. Investors appear encouraged that quarterly growth is being supported by durable project activity rather than only short-term cost controls. TechnipFMC Q3 earnings call transcript
• Neutral Sentiment: Valuation remains a consideration: Articles describe FTI as potentially undervalued under a growth-at-a-reasonable-price strategy. However, the stock trades at roughly 23.9 times earnings after a substantial one-year advance, so further gains may depend on continued earnings growth and execution. TechnipFMC valuation analysis

About TechnipFMC

TechnipFMC plc (NYSE: FTI) is an energy technology and services company that designs, manufactures and delivers equipment and integrated solutions for the exploration, development and production of oil and natural gas resources. The company serves energy operators, engineering and construction firms, and other participants across the global energy industry.

TechnipFMC operates through two principal areas: Subsea and Surface Technologies. Its subsea business provides subsea production systems, subsea services, installation solutions and related technologies used to develop offshore fields.