New York State Teachers Retirement System Raises Stock Holdings in TechnipFMC plc $FTI

New York State Teachers Retirement System boosted its stake in TechnipFMC plc (NYSE:FTI) by 82.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,927 shares of the oil and gas company’s stock after acquiring an additional 871 shares during the period. New York State Teachers Retirement System’s holdings in TechnipFMC were worth $66,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Ameriprise Financial Inc. increased its stake in 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 worth $571,583,000 after purchasing an additional 1,492,746 shares during the period. Massachusetts Financial Services Co. MA increased its stake in TechnipFMC by 2.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,952,064 shares of the oil and gas company’s stock worth $315,381,000 after purchasing an additional 202,599 shares during the period. AQR Capital Management LLC increased its stake in TechnipFMC by 111.4% during the first 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 during the period. Invesco Ltd. increased its stake in TechnipFMC by 18.0% during 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 period. Finally, Goldman Sachs Group Inc. increased its stake in TechnipFMC by 21.6% during 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 period. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $40.83 on Friday. TechnipFMC plc has a one year low of $22.11 and a one year high of $41.35. The company has a market cap of $16.78 billion, a PE ratio of 19.26, a P/E/G ratio of 1.10 and a beta of 1.04. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.10. The business has a 50-day simple moving average of $37.86 and a 200-day simple moving average of $33.89.

TechnipFMC (NYSE:FTI) last announced 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. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.60 billion. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%.The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, November 18th. TechnipFMC’s dividend payout ratio is 9.43%.

TechnipFMC declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 22nd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 13.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

FTI has been the topic of a number of recent research reports. Susquehanna boosted their price target on shares of TechnipFMC from $40.00 to $45.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Barclays boosted their price target on shares of TechnipFMC from $45.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. BNP Paribas Exane upgraded shares of TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 price target on the stock in a research note on Friday, October 10th. BNP Paribas set a $47.00 price target on shares of TechnipFMC and gave the stock an “outperform” rating in a research note on Friday, October 10th. Finally, Royal Bank Of Canada boosted their price objective on TechnipFMC from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, TechnipFMC presently has a consensus rating of “Buy” and an average price target of $41.93.

Insider Activity at TechnipFMC

In related news, insider Thierry Conti sold 50,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 56,352 shares of the company’s stock, valued at $2,177,441.28. This represents a 47.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Alf Melin sold 113,760 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer directly owned 241,140 shares of the company’s stock, valued at $9,310,415.40. This trade represents a 32.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 876,603 shares of company stock valued at $33,832,588 over the last three months. 1.80% of the stock is owned by corporate insiders.

TechnipFMC Company 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.