Harbour Capital Advisors LLC Sells 1,000 Shares of TechnipFMC plc $FTI

Harbour Capital Advisors LLC trimmed its position in TechnipFMC plc (NYSE:FTI) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,066 shares of the oil and gas company’s stock after selling 1,000 shares during the quarter. Harbour Capital Advisors LLC’s holdings in TechnipFMC were worth $799,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. New York State Teachers Retirement System bought a new stake in shares of TechnipFMC in the 1st quarter valued at about $33,000. Geneos Wealth Management Inc. raised its holdings in shares of TechnipFMC by 45.3% in the 1st 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 period. Financial Network Wealth Advisors LLC raised its holdings in shares of TechnipFMC by 29.7% in the 1st 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 period. Brooklyn Investment Group raised its holdings in shares of TechnipFMC by 2,216.1% in the 1st 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 period. Finally, Farther Finance Advisors LLC raised its holdings in shares of TechnipFMC by 346.7% in the 1st quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company’s stock valued at $92,000 after purchasing an additional 2,219 shares during the period. 96.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FTI. Evercore ISI upped their price target on shares of TechnipFMC from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Susquehanna upped their price target on shares of TechnipFMC from $40.00 to $45.00 and gave the company a “positive” rating in a research note on Friday, July 25th. Citigroup reiterated a “buy” rating and issued a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. BTIG Research lowered shares of TechnipFMC from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. Finally, Royal Bank Of Canada upped their price target on shares of TechnipFMC from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, TechnipFMC presently has a consensus rating of “Moderate Buy” and an average target price of $38.92.

TechnipFMC Stock Performance

NYSE FTI opened at $39.39 on Friday. 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 firm has a market capitalization of $16.19 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 1.26 and a beta of 1.10. The firm’s 50 day simple moving average is $36.41 and its 200 day simple moving average is $32.31. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $41.29.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.11. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. TechnipFMC has set its FY 2025 guidance at EPS. As a group, research analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Tuesday, August 19th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $0.20 annualized dividend and a yield of 0.5%. TechnipFMC’s dividend payout ratio is presently 9.43%.

Insider Buying and Selling

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $37.12, for a total value of $348,222.72. Following the completion of the transaction, the director owned 62,978 shares of the company’s stock, valued at $2,337,743.36. This represents a 12.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by insiders.

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.