State of New Jersey Common Pension Fund D Sells 983 Shares of TechnipFMC plc $FTI

State of New Jersey Common Pension Fund D cut its holdings in TechnipFMC plc (NYSE:FTI) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 162,327 shares of the oil and gas company’s stock after selling 983 shares during the period. State of New Jersey Common Pension Fund D’s holdings in TechnipFMC were worth $5,591,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FTI. New York State Teachers Retirement System bought a new position in TechnipFMC during the first quarter valued at about $33,000. Geneos Wealth Management Inc. increased its stake in TechnipFMC by 45.3% during the first 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 during the period. Caitong International Asset Management Co. Ltd bought a new position in TechnipFMC during the second quarter valued at about $44,000. Financial Network Wealth Advisors LLC increased its stake in TechnipFMC by 29.7% during the first 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 during the period. Finally, Brooklyn Investment Group increased its stake in TechnipFMC by 2,216.1% during the first 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 during the period. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Down 3.4%

Shares of FTI opened at $39.51 on Monday. The company has a market capitalization of $15.98 billion, a P/E ratio of 17.64, a PEG ratio of 1.16 and a beta of 1.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. TechnipFMC plc has a one year low of $22.11 and a one year high of $41.35. The business’s 50 day simple moving average is $37.95 and its 200-day simple moving average is $34.13.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.65 by $0.10. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.TechnipFMC’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. TechnipFMC has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

TechnipFMC declared that its board has authorized a share buyback 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 reacquire up to 13.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently issued reports on FTI. Susquehanna boosted their price target on TechnipFMC from $40.00 to $45.00 and gave the company a “positive” rating in a research note on Friday, July 25th. Citigroup reaffirmed a “buy” rating and set a $41.00 price objective (up from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Royal Bank Of Canada upped their price objective on TechnipFMC from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. BNP Paribas set a $47.00 price objective on TechnipFMC and gave the company an “outperform” rating in a research note on Friday, October 10th. Finally, Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $42.00.

Insider Transactions at TechnipFMC

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