R Squared Ltd Boosts Holdings in TechnipFMC plc $FTI

R Squared Ltd raised its holdings in shares of TechnipFMC plc (NYSE:FTI) by 72.8% during the second quarter, HoldingsChannel.com reports. The firm owned 20,204 shares of the oil and gas company’s stock after buying an additional 8,514 shares during the period. R Squared Ltd’s holdings in TechnipFMC were worth $696,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in TechnipFMC by 27.0% in the first quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company’s stock worth $91,000 after acquiring an additional 614 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of TechnipFMC by 8.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 88,101 shares of the oil and gas company’s stock worth $2,792,000 after buying an additional 6,947 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of TechnipFMC in the 1st quarter valued at $205,000. Flagship Harbor Advisors LLC lifted its position in TechnipFMC by 20.0% during the 1st quarter. Flagship Harbor Advisors LLC now owns 10,353 shares of the oil and gas company’s stock worth $328,000 after acquiring an additional 1,727 shares during the period. Finally, Illinois Municipal Retirement Fund purchased a new stake in TechnipFMC during the 1st quarter valued at about $743,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Buying and Selling

In related news, CEO Douglas J. Pferdehirt sold 632,539 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.62, for a total transaction of $24,428,656.18. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thierry Conti sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.64, for a total transaction of $1,932,000.00. Following the completion of the transaction, the insider directly owned 56,352 shares in the company, valued at $2,177,441.28. This trade represents a 47.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 876,603 shares of company stock worth $33,832,588. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FTI has been the subject of a number of recent research reports. Barclays raised their price target on shares of TechnipFMC from $45.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Susquehanna boosted their price objective on TechnipFMC from $40.00 to $45.00 and gave the company a “positive” rating in a report on Friday, July 25th. BNP Paribas set a $47.00 price target on TechnipFMC and gave the company an “outperform” rating in a research report on Friday, October 10th. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Finally, Piper Sandler set a $48.00 price objective on shares of TechnipFMC and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Three 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 company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $41.93.

TechnipFMC Trading Up 8.9%

FTI stock opened at $40.83 on Friday. The business’s 50-day moving average is $37.86 and its 200 day moving average is $33.89. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $41.35. The stock has a market cap of $16.78 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 1.10 and a beta of 1.04. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15.

TechnipFMC (NYSE:FTI) last issued its quarterly 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. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%.The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

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

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 given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, November 18th. TechnipFMC’s dividend payout ratio is 9.43%.

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.