15,780 TechnipFMC plc $FTI Shares Sold by VestGen Advisors LLC

VestGen Advisors LLC reduced its position in shares of TechnipFMC plc (NYSE:FTI) by 64.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,760 shares of the oil and gas company’s stock after selling 15,780 shares during the quarter. VestGen Advisors LLC’s holdings in TechnipFMC were worth $595,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new stake in shares of TechnipFMC in the 1st quarter worth about $26,000. Coppell Advisory Solutions LLC bought a new position in TechnipFMC in the 2nd quarter worth about $35,000. Ascentis Independent Advisors bought a new position in TechnipFMC in the 1st quarter worth about $37,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of TechnipFMC in the second quarter valued at approximately $37,000. Finally, Latitude Advisors LLC acquired a new stake in shares of TechnipFMC in the third quarter valued at approximately $41,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC News Summary

Here are the key news stories impacting TechnipFMC this week:

• Positive Sentiment: Material earnings and revenue beats: TechnipFMC reported adjusted earnings of $1.05 per share, well above the $0.88 consensus estimate and up from $0.75 a year earlier. Revenue reached $2.90 billion, exceeding the $2.79 billion forecast and increasing 9.4% year over year. TechnipFMC third-quarter earnings results
• Positive Sentiment: Strong operating performance: The quarter featured an 11.28% net margin and 36.54% return on equity. Management commentary and the earnings presentation highlighted continued momentum in the business and expectations for a sustained, long deepwater cycle—an important demand driver for TechnipFMC’s subsea services and equipment. TechnipFMC deepwater cycle outlook
• Positive Sentiment: Improved growth narrative: The earnings call and presentation suggest that offshore energy investment is supporting TechnipFMC’s order and revenue outlook. Investors appear encouraged that quarterly growth is being supported by durable project activity rather than only short-term cost controls. TechnipFMC Q3 earnings call transcript
• Neutral Sentiment: Valuation remains a consideration: Articles describe FTI as potentially undervalued under a growth-at-a-reasonable-price strategy. However, the stock trades at roughly 23.9 times earnings after a substantial one-year advance, so further gains may depend on continued earnings growth and execution. TechnipFMC valuation analysis

Insider Activity

In other TechnipFMC news, insider Thierry Conti sold 6,000 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $71.85, for a total transaction of $431,100.00. Following the completion of the transaction, the insider owned 85,813 shares in the company, valued at approximately $6,165,664.05. This represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Mullins bought 6,365 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the acquisition, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. This represents a 373.31% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FTI has been the subject of a number of recent analyst reports. Barclays decreased their target price on shares of TechnipFMC from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, October 15th. Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Wall Street Zen downgraded TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. UBS Group initiated coverage on shares of TechnipFMC in a research report on Monday, October 12th. They issued a “buy” rating and a $89.00 target price for the company. Finally, Susquehanna lowered their price target on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $74.83.

TechnipFMC Trading Down 0.1%

Shares of FTI opened at $68.70 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The stock has a market cap of $26.71 billion, a PE ratio of 21.60, a PEG ratio of 1.09 and a beta of 0.89. TechnipFMC plc has a 1 year low of $41.06 and a 1 year high of $80.70. The stock has a 50 day simple moving average of $72.32 and a 200-day simple moving average of $68.99.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.17. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.79 billion. TechnipFMC had a net margin of 12.04% and a return on equity of 39.82%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. On average, sell-side analysts predict that TechnipFMC plc will post 3.23 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Tuesday, November 17th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s payout ratio is 6.29%.

About TechnipFMC

TechnipFMC plc (NYSE: FTI) is an energy technology and services company that designs, manufactures and delivers equipment and integrated solutions for the exploration, development and production of oil and natural gas resources. The company serves energy operators, engineering and construction firms, and other participants across the global energy industry.

TechnipFMC operates through two principal areas: Subsea and Surface Technologies. Its subsea business provides subsea production systems, subsea services, installation solutions and related technologies used to develop offshore fields.