Empowered Funds LLC Has $7.80 Million Holdings in TechnipFMC plc $FTI

Empowered Funds LLC lessened its holdings in TechnipFMC plc (NYSE:FTI) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 226,430 shares of the oil and gas company’s stock after selling 3,343 shares during the quarter. Empowered Funds LLC owned 0.06% of TechnipFMC worth $7,798,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its position in TechnipFMC by 9.0% during the 1st quarter. Ameriprise Financial Inc. now owns 18,030,976 shares of the oil and gas company’s stock worth $571,583,000 after buying an additional 1,492,746 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of TechnipFMC by 1.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,141,701 shares of the oil and gas company’s stock valued at $349,280,000 after acquiring an additional 189,637 shares during the last quarter. Boston Partners raised its holdings in TechnipFMC by 267.5% during the second 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 in the last quarter. AQR Capital Management LLC boosted its position in TechnipFMC by 111.4% during the first quarter. AQR Capital Management LLC now owns 8,735,697 shares of the oil and gas company’s stock valued at $273,078,000 after purchasing an additional 4,602,939 shares during the last quarter. Finally, Invesco Ltd. grew its stake in TechnipFMC by 18.0% in the first quarter. Invesco Ltd. now owns 7,458,847 shares of the oil and gas company’s stock valued at $236,371,000 after purchasing an additional 1,136,554 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FTI. Piper Sandler raised their target price on shares of TechnipFMC from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. BNP Paribas set a $47.00 price target on shares of TechnipFMC and gave the company an “outperform” rating in a research note on Friday, October 10th. BNP Paribas Exane raised shares of TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 price objective for the company in a research report on Friday, October 10th. JPMorgan Chase & Co. upped their target price on shares of TechnipFMC from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Finally, Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, TechnipFMC currently has a consensus rating of “Moderate Buy” and an average price target of $45.36.

Insiders Place Their Bets

In other news, CFO Alf Melin sold 113,760 shares of TechnipFMC stock in a transaction 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 sale, the chief financial officer owned 241,140 shares of the company’s stock, valued at approximately $9,310,415.40. This trade represents a 32.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the insider directly owned 56,352 shares of the company’s stock, valued at approximately $2,177,441.28. The trade was a 47.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 876,603 shares of company stock worth $33,832,588 in the last 90 days. Company insiders own 1.80% of the company’s stock.

TechnipFMC Stock Up 0.5%

TechnipFMC stock opened at $44.01 on Thursday. The company’s 50-day moving average price is $39.84 and its two-hundred day moving average price is $36.14. 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 stock has a market cap of $17.80 billion, a P/E ratio of 19.65, a P/E/G ratio of 1.20 and a beta of 1.00. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $44.33.

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 company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.60 billion. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. As a group, analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Tuesday, November 18th will be issued a $0.05 dividend. 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 is currently 8.93%.

TechnipFMC announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 22nd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 13.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

About TechnipFMC

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.