TechnipFMC plc $FTI Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. reduced its holdings in TechnipFMC plc (NYSE:FTI) by 17.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 528,609 shares of the oil and gas company’s stock after selling 110,706 shares during the period. Thornburg Investment Management Inc.’s holdings in TechnipFMC were worth $18,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of FTI. Geneos Wealth Management Inc. raised its holdings in TechnipFMC by 45.3% in 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 during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of TechnipFMC in the second quarter valued at approximately $44,000. Financial Network Wealth Advisors LLC increased its holdings in shares of TechnipFMC by 29.7% in 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 purchasing an additional 346 shares during the last quarter. New York State Teachers Retirement System lifted its position in TechnipFMC by 82.5% during the second quarter. New York State Teachers Retirement System now owns 1,927 shares of the oil and gas company’s stock worth $66,000 after buying an additional 871 shares in the last quarter. Finally, Brooklyn Investment Group boosted 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 worth $68,000 after buying an additional 2,061 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Up 1.0%

NYSE FTI opened at $45.00 on Wednesday. The firm’s 50-day moving average is $40.22 and its two-hundred day moving average is $36.61. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $45.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. The stock has a market capitalization of $18.20 billion, a P/E ratio of 20.09, a PEG ratio of 1.20 and a beta of 1.00.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.60 billion. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the business earned $0.64 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that TechnipFMC plc will post 1.63 earnings per share 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 issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, November 18th. TechnipFMC’s dividend payout ratio (DPR) is 8.93%.

TechnipFMC announced that its Board of Directors has initiated a share buyback program on Wednesday, October 22nd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 13.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have issued reports on FTI shares. UBS Group reaffirmed an “outperform” rating on shares of TechnipFMC in a research note on Tuesday, October 28th. BNP Paribas set a $47.00 price objective on shares of TechnipFMC and gave the company an “outperform” rating in a report on Friday, October 10th. Barclays lifted their target price on shares of TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Jefferies Financial Group boosted their target price on shares of TechnipFMC from $47.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of TechnipFMC from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.36.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, 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 transaction of $4,392,273.60. Following the transaction, the chief financial officer directly owned 241,140 shares in the company, valued at $9,310,415.40. This represents a 32.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thierry Conti sold 50,000 shares of the firm’s stock in a transaction 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 transaction, the insider owned 56,352 shares of the company’s stock, valued at approximately $2,177,441.28. This represents a 47.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 876,603 shares of company stock valued at $33,832,588 over the last quarter. 1.80% of the stock is owned by company insiders.

About TechnipFMC

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.