Calamos Wealth Management LLC raised its stake in shares of TechnipFMC plc (NYSE:FTI – Free Report) by 38.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 71,290 shares of the oil and gas company’s stock after purchasing an additional 19,868 shares during the period. Calamos Wealth Management LLC’s holdings in TechnipFMC were worth $4,842,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FTI. Coppell Advisory Solutions LLC bought a new position in shares of TechnipFMC during the second quarter worth about $35,000. Ascentis Independent Advisors bought a new stake in shares of TechnipFMC in the 1st quarter valued at $37,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of TechnipFMC during the second quarter worth $37,000. Latitude Advisors LLC bought a new position in TechnipFMC during the third quarter worth $41,000. Finally, Ameritas Advisory Services LLC acquired a new position in TechnipFMC in the second quarter valued at $44,000. 96.58% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
FTI has been the subject of several research analyst reports. Citigroup lifted their price objective on TechnipFMC from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, September 15th. Piper Sandler increased their price target on TechnipFMC from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday. Barclays increased their target price on shares of TechnipFMC from $86.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, Wall Street Zen cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $78.18.
Read Our Latest Research Report on TechnipFMC
TechnipFMC Stock Up 3.2%
FTI stock traded up $1.98 during midday trading on Friday, reaching $63.57. 2,950,624 shares of the company’s stock traded hands, compared to its average volume of 2,775,734. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 0.10. The firm’s fifty day moving average price is $71.17 and its 200-day moving average price is $69.31. TechnipFMC plc has a 52 week low of $41.73 and a 52 week high of $80.70. The company has a market cap of $24.72 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 1.06 and a beta of 0.89.
TechnipFMC (NYSE:FTI – Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.17. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.79 billion. TechnipFMC had a net margin of 12.04% and a return on equity of 39.82%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share. As a group, sell-side analysts forecast that TechnipFMC plc will post 3.28 earnings per share for the current fiscal year.
TechnipFMC Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Tuesday, November 17th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s payout ratio is presently 6.29%.
Insiders Place Their Bets
In other TechnipFMC news, insider Thierry Conti sold 6,000 shares of the firm’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $71.85, for a total transaction of $431,100.00. Following the transaction, the insider directly owned 85,813 shares in the company, valued at approximately $6,165,664.05. This trade represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Mullins acquired 6,365 shares of the business’s stock in a transaction on Friday, August 14th. The shares were purchased at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the acquisition, the director directly owned 8,070 shares in the company, valued at approximately $633,898.50. The trade was a 373.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.40% of the company’s stock.
About TechnipFMC
TechnipFMC is a global technology and services company serving the energy industry. It designs and delivers equipment and solutions for offshore and onshore oil and gas projects, with a particular focus on subsea production and related services.
Its offerings include subsea production systems, subsea installation and project services, and surface wellhead and production equipment. TechnipFMC also provides engineering and project-management capabilities, working with customers to develop and operate energy projects.
The company was formed in 2017 through the combination of Technip and FMC Technologies.
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