TechnipFMC (NYSE:FTI) Sets New 12-Month High – Time to Buy?

TechnipFMC plc (NYSE:FTI)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $44.34 and last traded at $43.6260, with a volume of 4263153 shares traded. The stock had previously closed at $43.16.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted 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. BNP Paribas set a $47.00 price objective on TechnipFMC and gave the company an “outperform” rating in a research report on Friday, October 10th. Jefferies Financial Group upped their target price on TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Weiss Ratings restated a “buy (b)” rating on shares of TechnipFMC in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.36.

TechnipFMC Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13. The stock has a market capitalization of $17.72 billion, a P/E ratio of 19.55, a PEG ratio of 1.20 and a beta of 1.00. The business has a 50-day moving average price of $39.77 and a 200 day moving average price of $36.09.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data 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 return on equity of 30.23% and a net margin of 9.67%.The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter last year, the company earned $0.64 EPS. The firm’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, sell-side analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Tuesday, November 18th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, November 18th. TechnipFMC’s payout ratio is currently 8.93%.

TechnipFMC declared that its Board of Directors has initiated a share buyback program on Wednesday, October 22nd that permits the company to repurchase $2.00 billion in outstanding 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 programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at TechnipFMC

In related news, insider Thierry Conti sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $38.64, for a total transaction of $1,932,000.00. Following the completion of the sale, the insider owned 56,352 shares of the company’s stock, valued at $2,177,441.28. This trade represents a 47.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alf Melin sold 113,760 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.61, for a total transaction of $4,392,273.60. Following the completion of the transaction, the chief financial officer owned 241,140 shares of the company’s stock, valued at approximately $9,310,415.40. The trade was a 32.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 876,603 shares of company stock worth $33,832,588. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of TechnipFMC

A number of institutional investors and hedge funds have recently modified their holdings of FTI. Blue Trust Inc. boosted its position in shares of TechnipFMC by 5,475.0% during the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 657 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in TechnipFMC during the 3rd quarter valued at about $32,000. Geneos Wealth Management Inc. boosted its holdings in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 340 shares during the last quarter. Huntington National Bank grew its stake in shares of TechnipFMC by 317.8% in the third quarter. Huntington National Bank now owns 1,195 shares of the oil and gas company’s stock worth $47,000 after acquiring an additional 909 shares during the period. Finally, McIlrath & Eck LLC raised its holdings in shares of TechnipFMC by 476.3% during the third quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 1,024 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

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.