Calamos Advisors LLC Reduces Holdings in TechnipFMC plc $FTI

Calamos Advisors LLC trimmed its stake in shares of TechnipFMC plc (NYSE:FTI) by 46.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,734 shares of the oil and gas company’s stock after selling 164,017 shares during the quarter. Calamos Advisors LLC’s holdings in TechnipFMC were worth $6,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of FTI. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of TechnipFMC by 2.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 157,274 shares of the oil and gas company’s stock worth $5,417,000 after purchasing an additional 3,205 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in TechnipFMC by 3.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 23,590 shares of the oil and gas company’s stock valued at $812,000 after buying an additional 789 shares during the period. Boston Partners grew its holdings in TechnipFMC by 267.5% in the 2nd quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock worth $333,041,000 after acquiring an additional 7,038,640 shares during the last quarter. Vise Technologies Inc. purchased a new position in shares of TechnipFMC in the second quarter valued at about $252,000. Finally, Allworth Financial LP raised its stake in shares of TechnipFMC by 91.5% during the second quarter. Allworth Financial LP now owns 4,823 shares of the oil and gas company’s stock valued at $166,000 after acquiring an additional 2,305 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling

In related news, insider Thierry Conti sold 50,000 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.64, for a total transaction of $1,932,000.00. Following the sale, the insider owned 56,352 shares of the company’s stock, valued at $2,177,441.28. The trade was a 47.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alf Melin sold 113,760 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 241,140 shares of the company’s stock, valued at $9,310,415.40. This represents a 32.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 876,603 shares of company stock valued at $33,832,588 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

FTI has been the topic of several recent analyst reports. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Susquehanna increased their price objective on TechnipFMC from $40.00 to $45.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Royal Bank Of Canada boosted their target price on TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Evercore ISI upped their target price on TechnipFMC from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Finally, UBS Group reiterated an “outperform” rating on shares of TechnipFMC in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.36.

TechnipFMC Trading Up 0.5%

FTI opened at $43.13 on Friday. The stock has a market cap of $17.45 billion, a PE ratio of 19.25, a PEG ratio of 1.20 and a beta of 1.00. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average of $39.53 and a 200-day moving average of $35.69. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $44.33.

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, topping the consensus estimate of $0.65 by $0.10. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. Equities research analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

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

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th will be given a dividend of $0.05 per share. 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 (DPR) is 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.