TechnipFMC plc $FTI Stock: Calamos Wealth Management LLC Increases Stake

Calamos Wealth Management LLC boosted its stake in shares of TechnipFMC plc (NYSE:FTI) by 38.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,290 shares of the oil and gas company’s stock after buying an additional 19,868 shares during the quarter. Calamos Wealth Management LLC’s holdings in TechnipFMC were worth $4,842,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC bought a new position in TechnipFMC during the second quarter worth about $3,470,000. Chase Investment Counsel Corp purchased a new stake in TechnipFMC during the 2nd quarter worth about $12,397,000. Globeflex Capital L P bought a new position in shares of TechnipFMC in the second quarter valued at approximately $1,011,000. Proficio Capital Partners LLC bought a new position in shares of TechnipFMC in the second quarter valued at approximately $1,301,000. Finally, Raiffeisen Bank International AG bought a new position in TechnipFMC in the 2nd quarter valued at $2,337,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

NYSE:FTI traded up $1.98 during mid-day trading on Friday, reaching $63.57. The stock had a trading volume of 2,950,624 shares, compared to its average volume of 2,775,734. The firm has a 50 day moving average price of $71.17 and a two-hundred day moving average price of $69.31. The stock has a market capitalization of $24.72 billion, a P/E ratio of 19.99, a P/E/G ratio of 1.06 and a beta of 0.89. TechnipFMC plc has a one year low of $41.73 and a one year high of $80.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 1.09.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 29th. The oil and gas company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.17. TechnipFMC had a net margin of 12.04% and a return on equity of 39.82%. 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 business earned $0.75 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts expect that TechnipFMC plc will post 3.28 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Tuesday, November 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, November 17th. TechnipFMC’s dividend payout ratio is presently 6.29%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FTI shares. Wall Street Zen downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Barclays raised their price target on TechnipFMC from $86.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, November 2nd. Piper Sandler upped their price objective on shares of TechnipFMC from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday. Citigroup raised their target price on shares of TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, September 15th. 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 objective on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, TechnipFMC has a consensus rating of “Buy” and a consensus price target of $78.18.

Insider Activity

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

About TechnipFMC

TechnipFMC is a global technology and services company serving the energy industry. It designs and delivers equipment and solutions for offshore and onshore oil and gas projects, with a particular focus on subsea production and related services.

Its offerings include subsea production systems, subsea installation and project services, and surface wellhead and production equipment. TechnipFMC also provides engineering and project-management capabilities, working with customers to develop and operate energy projects.

The company was formed in 2017 through the combination of Technip and FMC Technologies.