Oak Harvest Investment Services Sells 18,935 Shares of TechnipFMC plc $FTI

Oak Harvest Investment Services reduced its stake in TechnipFMC plc (NYSE:FTI) by 15.9% during the second quarter, HoldingsChannel reports. The firm owned 100,089 shares of the oil and gas company’s stock after selling 18,935 shares during the period. Oak Harvest Investment Services’ holdings in TechnipFMC were worth $3,447,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Diversified Trust Co raised its position in shares of TechnipFMC by 0.8% during the 2nd quarter. Diversified Trust Co now owns 40,830 shares of the oil and gas company’s stock valued at $1,406,000 after buying an additional 306 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares during the last quarter. Financial Network Wealth Advisors LLC lifted its stake in TechnipFMC by 29.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 346 shares during the last quarter. Diversify Advisory Services LLC boosted its holdings in shares of TechnipFMC by 5.1% in the 1st quarter. Diversify Advisory Services LLC now owns 7,506 shares of the oil and gas company’s stock worth $238,000 after purchasing an additional 362 shares in the last quarter. Finally, Sigma Planning Corp increased its position in shares of TechnipFMC by 4.9% during the 2nd quarter. Sigma Planning Corp now owns 11,917 shares of the oil and gas company’s stock valued at $410,000 after purchasing an additional 558 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FTI. Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. JPMorgan Chase & Co. upped their price objective 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. BNP Paribas Exane upgraded shares of TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 target price on the stock in a research report on Friday, October 10th. Finally, BNP Paribas set a $47.00 price target on shares of TechnipFMC and gave the company an “outperform” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.36.

TechnipFMC Price Performance

FTI stock opened at $43.13 on Friday. The firm’s 50-day moving average price is $39.53 and its two-hundred day moving average price is $35.69. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $44.33. The stock has a market capitalization of $17.45 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 1.20 and a beta of 1.00. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share for the quarter, topping 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 analyst estimates of $2.60 billion. During the same period in the prior year, the business posted $0.64 earnings per share. TechnipFMC’s revenue for the quarter was up 12.7% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. As a group, equities analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, November 18th. TechnipFMC’s dividend payout ratio is currently 8.93%.

TechnipFMC declared that its board has approved a share buyback plan on Wednesday, October 22nd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 13.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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 transaction, the insider owned 56,352 shares in the company, valued at $2,177,441.28. The trade was a 47.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas J. Pferdehirt sold 80,304 shares of TechnipFMC stock in a transaction that occurred 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 SEC filing for this sale provides additional information. Insiders sold 876,603 shares of company stock valued at $33,832,588 over the last quarter. 1.80% of the stock is owned by company insiders.

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.