TechnipFMC plc $FTI Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lessened its stake in TechnipFMC plc (NYSE:FTI) by 56.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 18,935 shares of the oil and gas company’s stock after selling 24,531 shares during the period. Bessemer Group Inc.’s holdings in TechnipFMC were worth $652,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FTI. New York State Teachers Retirement System acquired a new stake in shares of TechnipFMC in the first quarter valued at approximately $33,000. Geneos Wealth Management Inc. increased its holdings in shares of TechnipFMC by 45.3% in 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 purchasing an additional 340 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired 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. Finally, Brooklyn Investment Group increased its holdings in shares of TechnipFMC by 2,216.1% in the first quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 2,061 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Activity

In other news, insider Thierry Conti sold 50,000 shares of TechnipFMC 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 completion of the sale, the insider directly owned 56,352 shares of the company’s stock, valued at approximately $2,177,441.28. The trade was a 47.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Alf Melin sold 113,760 shares of TechnipFMC stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $38.61, for a total value of $4,392,273.60. Following the completion of the sale, the chief financial officer directly owned 241,140 shares of the company’s stock, valued at $9,310,415.40. The trade was a 32.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 876,603 shares of company stock valued at $33,832,588. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on FTI. BTIG Research cut TechnipFMC from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Evercore ISI raised their target price on TechnipFMC from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a research note on Wednesday, October 8th. Finally, UBS Group reissued an “outperform” rating on shares of TechnipFMC in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $44.64.

TechnipFMC Trading Down 1.0%

Shares of NYSE FTI opened at $41.37 on Friday. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $42.65. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $38.54 and a 200-day simple moving average of $34.69. The stock has a market capitalization of $16.73 billion, a PE ratio of 18.47, a PEG ratio of 1.20 and a beta of 1.04.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data 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. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. On average, equities analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC declared that its board has approved a stock buyback program on Wednesday, October 22nd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 13.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.5%. TechnipFMC’s payout ratio is presently 8.93%.

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.