TechnipFMC plc $FTI Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System lifted its position in shares of TechnipFMC plc (NYSE:FTI) by 82.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,927 shares of the oil and gas company’s stock after purchasing an additional 871 shares during the quarter. New York State Teachers Retirement System’s holdings in TechnipFMC were worth $66,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FTI. GAMMA Investing LLC grew its stake in shares of TechnipFMC by 27.0% during the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company’s stock worth $91,000 after purchasing an additional 614 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of TechnipFMC by 8.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 88,101 shares of the oil and gas company’s stock worth $2,792,000 after purchasing an additional 6,947 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of TechnipFMC during the 1st quarter worth approximately $205,000. Flagship Harbor Advisors LLC grew its stake in shares of TechnipFMC by 20.0% during the 1st quarter. Flagship Harbor Advisors LLC now owns 10,353 shares of the oil and gas company’s stock worth $328,000 after purchasing an additional 1,727 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new stake in TechnipFMC in the 1st quarter valued at $743,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analysts Set New Price Targets

FTI has been the subject of a number of research analyst reports. BTIG Research cut shares of TechnipFMC from a “buy” rating to a “neutral” rating in a research report on Monday, July 14th. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Evercore ISI increased their price objective on shares of TechnipFMC from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Barclays increased their price objective on shares of TechnipFMC from $45.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of TechnipFMC from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, TechnipFMC presently has a consensus rating of “Buy” and a consensus target price of $41.93.

Insider Transactions at TechnipFMC

In related news, CFO Alf Melin sold 113,760 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.61, for a total value of $4,392,273.60. Following the sale, the chief financial officer directly owned 241,140 shares in the company, valued at approximately $9,310,415.40. The trade was a 32.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas J. Pferdehirt sold 632,539 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.62, for a total transaction of $24,428,656.18. Following the completion of the sale, the chief executive officer owned 2,917,054 shares in the company, valued at approximately $112,656,625.48. This trade represents a 17.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 876,603 shares of company stock worth $33,832,588 in the last quarter. Company insiders own 1.80% of the company’s stock.

TechnipFMC Trading Up 8.9%

Shares of FTI opened at $40.83 on Friday. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $41.35. The company has a quick ratio of 0.86, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm’s fifty day moving average is $37.86 and its two-hundred day moving average is $33.89. The stock has a market cap of $16.78 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 1.10 and a beta of 1.04.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.10. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the previous year, the company posted $0.64 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. Research analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Tuesday, November 18th will be issued 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 is Tuesday, November 18th. TechnipFMC’s payout ratio is currently 9.43%.

TechnipFMC announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 22nd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 13.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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.