TechnipFMC plc $FTI Position Increased by Convergence Investment Partners LLC

Convergence Investment Partners LLC raised its holdings in shares of TechnipFMC plc (NYSE:FTI) by 40.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,945 shares of the oil and gas company’s stock after purchasing an additional 8,028 shares during the period. Convergence Investment Partners LLC’s holdings in TechnipFMC were worth $962,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of FTI. GAMMA Investing LLC grew its position in shares of TechnipFMC by 27.0% during 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 during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of TechnipFMC during the first quarter worth about $205,000. Illinois Municipal Retirement Fund bought a new position in shares of TechnipFMC during the first quarter worth about $743,000. KBC Group NV grew its position in shares of TechnipFMC by 2.4% during the first quarter. KBC Group NV now owns 18,129 shares of the oil and gas company’s stock worth $575,000 after acquiring an additional 429 shares during the last quarter. Finally, Amalgamated Bank grew its position in shares of TechnipFMC by 4.0% during the first quarter. Amalgamated Bank now owns 22,493 shares of the oil and gas company’s stock worth $713,000 after acquiring an additional 861 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $40.50 on Tuesday. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $41.35. 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 company has a market capitalization of $16.38 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.16 and a beta of 1.04. The firm has a 50-day moving average of $38.05 and a two-hundred day moving average of $34.23.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results 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 net margin of 9.67% and a return on equity of 30.23%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the prior year, the company earned $0.64 EPS. TechnipFMC’s revenue was up 12.7% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. As a group, analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC announced that its board has approved a share 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 typically a sign that the company’s management believes its shares are undervalued.

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 issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, November 18th. TechnipFMC’s dividend payout ratio is presently 8.93%.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, insider Thierry Conti sold 50,000 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were 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. This represents a 47.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alf Melin sold 113,760 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were 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 $9,310,415.40. The trade was a 32.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 876,603 shares of company stock valued at $33,832,588. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FTI. Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. UBS Group set a $53.00 price objective on shares of TechnipFMC in a report on Monday. JPMorgan Chase & Co. raised their target price on shares of TechnipFMC from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. BTIG Research cut shares of TechnipFMC from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. Finally, BNP Paribas set a $47.00 target price on shares of TechnipFMC and gave the company an “outperform” rating in a research note on Friday, October 10th. Three 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $42.87.

TechnipFMC 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.