TechnipFMC plc $FTI Position Lowered by Mount Lucas Management LP

Mount Lucas Management LP trimmed its position in TechnipFMC plc (NYSE:FTI) by 10.1% in the second quarter, Holdings Channel reports. The firm owned 31,279 shares of the oil and gas company’s stock after selling 3,525 shares during the quarter. Mount Lucas Management LP’s holdings in TechnipFMC were worth $1,077,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Citizens Financial Group Inc. RI bought a new position in TechnipFMC during the 2nd quarter worth approximately $206,000. Westwood Holdings Group Inc. acquired a new stake in shares of TechnipFMC during the 2nd quarter valued at approximately $207,000. Cetera Investment Advisers raised its position in shares of TechnipFMC by 6.2% during the 2nd quarter. Cetera Investment Advisers now owns 39,386 shares of the oil and gas company’s stock valued at $1,356,000 after acquiring an additional 2,296 shares in the last quarter. Creative Planning lifted its stake in TechnipFMC by 50.5% during the second quarter. Creative Planning now owns 36,492 shares of the oil and gas company’s stock worth $1,257,000 after purchasing an additional 12,240 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in TechnipFMC during the second quarter worth $486,000. 96.58% of the stock is owned by institutional investors.

Insider Activity at TechnipFMC

In other TechnipFMC news, CEO Douglas J. Pferdehirt sold 80,304 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.35, for a total transaction of $3,079,658.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thierry Conti sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.64, for a total value of $1,932,000.00. Following the sale, the insider directly owned 56,352 shares in the company, valued at approximately $2,177,441.28. The trade was a 47.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 876,603 shares of company stock worth $33,832,588 over the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Barclays boosted their price objective on shares of TechnipFMC from $51.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. BNP Paribas set a $47.00 target price on shares of TechnipFMC and gave the stock an “outperform” rating in a report on Friday, October 10th. BNP Paribas Exane upgraded TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 target price for the company in a research note on Friday, October 10th. Finally, Jefferies Financial Group increased their price target on TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. 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 stock. According to MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and a consensus price target of $45.36.

TechnipFMC Stock Performance

FTI opened at $43.77 on Monday. The business’s 50 day moving average is $39.62 and its 200-day moving average is $35.89. The stock has a market cap of $17.70 billion, a PE ratio of 19.54, a price-to-earnings-growth 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 plc has a twelve month low of $22.11 and a twelve month high of $44.34.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.10. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The business 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 company posted $0.64 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. TechnipFMC has set its FY 2025 guidance at EPS. On average, analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC announced that its Board of Directors has authorized a stock 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 reacquire up to 13.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders 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 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.