Caitong International Asset Management Co. Ltd Makes New Investment in TechnipFMC plc $FTI

Caitong International Asset Management Co. Ltd bought a new stake in shares of TechnipFMC plc (NYSE:FTI) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,268 shares of the oil and gas company’s stock, valued at approximately $44,000.

Several other institutional investors and hedge funds also recently bought and sold shares of FTI. New York State Teachers Retirement System purchased a new position in TechnipFMC during the 1st quarter valued at about $33,000. Geneos Wealth Management Inc. grew its stake in TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 340 shares in the last quarter. Financial Network Wealth Advisors LLC grew its stake in TechnipFMC by 29.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company’s stock valued at $48,000 after acquiring an additional 346 shares in the last quarter. Brooklyn Investment Group grew its stake in TechnipFMC by 2,216.1% during the 1st quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company’s stock valued at $68,000 after acquiring an additional 2,061 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA grew its stake in TechnipFMC by 67.2% during the 2nd quarter. Compagnie Lombard Odier SCmA now owns 2,608 shares of the oil and gas company’s stock valued at $90,000 after acquiring an additional 1,048 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Down 3.4%

Shares of TechnipFMC stock opened at $39.51 on Friday. The stock has a market capitalization of $16.24 billion, a P/E ratio of 17.64, a PEG ratio of 1.16 and a beta of 1.04. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average price of $37.95 and a two-hundred day moving average price of $34.08. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $41.35.

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 analysts’ consensus estimates of $0.65 by $0.10. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. Equities analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

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

TechnipFMC announced that its board has initiated a stock repurchase program 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 programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have weighed in on FTI shares. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a research note on Saturday. JPMorgan Chase & Co. boosted their price target on TechnipFMC from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Evercore ISI boosted their price target on TechnipFMC from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Finally, BNP Paribas set a $47.00 price target on TechnipFMC and gave the company an “outperform” rating in a research note on Friday, October 10th. 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’s stock. According to MarketBeat.com, TechnipFMC currently has a consensus rating of “Buy” and an average price target of $42.00.

Insiders Place Their Bets

In other TechnipFMC news, CFO Alf Melin sold 113,760 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.61, for a total transaction of $4,392,273.60. Following the completion of the sale, the chief financial officer owned 241,140 shares of the company’s stock, valued at $9,310,415.40. This represents a 32.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas J. Pferdehirt sold 80,304 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.35, for a total value of $3,079,658.40. 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 90 days. 1.80% of the stock is currently owned by company insiders.

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.