TechnipFMC plc (NYSE:FTI) Short Interest Update

TechnipFMC plc (NYSE:FTI) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 17,840,000 shares, an increase of 91.4% from the August 31st total of 9,320,000 shares. Approximately 4.4% of the shares of the company are sold short. Based on an average trading volume of 5,340,000 shares, the days-to-cover ratio is currently 3.3 days. Based on an average trading volume of 5,340,000 shares, the days-to-cover ratio is currently 3.3 days. Approximately 4.4% of the shares of the company are sold short.

Insider Activity at TechnipFMC

In related news, 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 transaction 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 approximately $9,310,415.40. This trade represents a 32.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Douglas J. Pferdehirt sold 80,304 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $38.35, for a total value of $3,079,658.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 885,984 shares of company stock valued at $34,180,811. 1.80% of the stock is currently owned by insiders.

Institutional Trading of TechnipFMC

Several institutional investors and hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its stake in TechnipFMC by 9.0% in the first quarter. Ameriprise Financial Inc. now owns 18,030,976 shares of the oil and gas company’s stock valued at $571,583,000 after buying an additional 1,492,746 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of TechnipFMC by 1.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,141,701 shares of the oil and gas company’s stock worth $349,280,000 after acquiring an additional 189,637 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of TechnipFMC by 13.8% in the second quarter. AQR Capital Management LLC now owns 9,938,410 shares of the oil and gas company’s stock worth $342,279,000 after acquiring an additional 1,202,713 shares during the last quarter. Boston Partners boosted its stake in shares of TechnipFMC by 267.5% in the 2nd quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock valued at $333,041,000 after purchasing an additional 7,038,640 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of TechnipFMC by 18.0% during the 1st quarter. Invesco Ltd. now owns 7,458,847 shares of the oil and gas company’s stock valued at $236,371,000 after purchasing an additional 1,136,554 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FTI. Citigroup reissued a “buy” rating and issued a $41.00 target price (up previously from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday. JPMorgan Chase & Co. increased their target price on shares of TechnipFMC from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of TechnipFMC in a research report on Saturday, September 27th. Finally, BTIG Research cut TechnipFMC from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.21.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $38.00 on Tuesday. The firm has a 50 day moving average of $37.54 and a 200-day moving average of $33.31. TechnipFMC has a 12 month low of $22.11 and a 12 month high of $41.29. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $15.62 billion, a PE ratio of 17.92, a PEG ratio of 1.22 and a beta of 1.04.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.11. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the firm posted $0.43 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. TechnipFMC has set its FY 2025 guidance at EPS. On average, equities research analysts predict that TechnipFMC will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th were paid a $0.05 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. TechnipFMC’s dividend payout ratio (DPR) is presently 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.