Cumberland Partners Ltd Buys 25,000 Shares of TechnipFMC plc $FTI

Cumberland Partners Ltd lifted its holdings in TechnipFMC plc (NYSE:FTI) by 83.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,000 shares of the oil and gas company’s stock after purchasing an additional 25,000 shares during the period. Cumberland Partners Ltd’s holdings in TechnipFMC were worth $1,894,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. IFP Advisors Inc lifted its holdings in TechnipFMC by 1,098.0% during the 1st quarter. IFP Advisors Inc now owns 4,708 shares of the oil and gas company’s stock valued at $149,000 after purchasing an additional 4,315 shares during the last quarter. Allianz Asset Management GmbH raised its stake in TechnipFMC by 64.0% during the 1st quarter. Allianz Asset Management GmbH now owns 19,497 shares of the oil and gas company’s stock worth $618,000 after buying an additional 7,612 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of TechnipFMC by 15.3% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 487,534 shares of the oil and gas company’s stock valued at $15,450,000 after purchasing an additional 64,751 shares in the last quarter. KLP Kapitalforvaltning AS raised its holdings in TechnipFMC by 2.1% during the 1st quarter. KLP Kapitalforvaltning AS now owns 92,600 shares of the oil and gas company’s stock worth $2,939,000 after buying an additional 1,900 shares during the period. Finally, SYM FINANCIAL Corp boosted its stake in TechnipFMC by 11.7% in the 1st quarter. SYM FINANCIAL Corp now owns 7,912 shares of the oil and gas company’s stock worth $251,000 after purchasing an additional 829 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Up 0.5%

FTI opened at $44.01 on Thursday. 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 $44.33. The firm has a market capitalization of $17.80 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The company has a fifty day moving average price of $39.84 and a 200-day moving average price of $36.14.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The business had revenue of $2.65 billion for 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 firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. Equities research analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

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

TechnipFMC declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 22nd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the oil and gas company to purchase up to 13.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FTI. Citigroup boosted their target price on shares of TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Piper Sandler boosted their price objective on shares of TechnipFMC from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. Barclays upped their price target on TechnipFMC from $51.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. UBS Group reissued an “outperform” rating on shares of TechnipFMC in a research report on Tuesday, October 28th. Finally, Royal Bank Of Canada boosted their price target on TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.36.

Insider Buying and Selling at TechnipFMC

In related news, CEO Douglas J. Pferdehirt sold 80,304 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $38.35, for a total transaction of $3,079,658.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alf Melin sold 113,760 shares of TechnipFMC stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 241,140 shares in the company, valued at $9,310,415.40. This trade represents a 32.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 876,603 shares of company stock worth $33,832,588 over the last three months. Company insiders own 1.80% of the company’s stock.

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.