Calamos Advisors LLC Sells 164,017 Shares of TechnipFMC plc $FTI

Calamos Advisors LLC cut its position in TechnipFMC plc (NYSE:FTI) by 46.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 189,734 shares of the oil and gas company’s stock after selling 164,017 shares during the period. Calamos Advisors LLC’s holdings in TechnipFMC were worth $6,534,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its position in shares of TechnipFMC by 9.0% during the first quarter. Ameriprise Financial Inc. now owns 18,030,976 shares of the oil and gas company’s stock valued at $571,583,000 after acquiring an additional 1,492,746 shares in the last quarter. Boston Partners boosted its stake in TechnipFMC by 267.5% during the 2nd quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock valued at $333,041,000 after purchasing an additional 7,038,640 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of TechnipFMC by 111.4% in the 1st quarter. AQR Capital Management LLC now owns 8,735,697 shares of the oil and gas company’s stock worth $273,078,000 after purchasing an additional 4,602,939 shares in the last quarter. Invesco Ltd. raised its stake in shares of TechnipFMC by 18.0% in the first quarter. Invesco Ltd. now owns 7,458,847 shares of the oil and gas company’s stock worth $236,371,000 after purchasing an additional 1,136,554 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of TechnipFMC by 21.6% in the first quarter. Goldman Sachs Group Inc. now owns 5,124,326 shares of the oil and gas company’s stock worth $162,390,000 after purchasing an additional 910,891 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

FTI has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on TechnipFMC from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Piper Sandler raised their price target on shares of TechnipFMC from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Citigroup lifted their price target on shares of TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Susquehanna increased their price objective on shares of TechnipFMC from $40.00 to $45.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Finally, UBS Group reaffirmed an “outperform” rating on shares of TechnipFMC in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, TechnipFMC has a consensus rating of “Moderate Buy” and an average target price of $45.36.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, CEO Douglas J. Pferdehirt sold 80,304 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $38.35, for a total transaction of $3,079,658.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thierry Conti sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 56,352 shares in the company, valued at $2,177,441.28. This trade represents a 47.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 876,603 shares of company stock valued at $33,832,588. Company insiders own 1.80% of the company’s stock.

TechnipFMC Stock Performance

FTI opened at $43.13 on Friday. The company’s 50 day moving average is $39.53 and its 200 day moving average is $35.69. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The company has a market cap of $17.45 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 1.20 and a beta of 1.00. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $44.33.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, beating 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 in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. On average, equities research analysts predict that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

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

TechnipFMC declared that its Board of Directors has authorized a stock repurchase 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 reacquire up to 13.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors 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.