TechnipFMC (NYSE:FTI) Reaches New 12-Month High – Still a Buy?

TechnipFMC plc (NYSE:FTI)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $45.09 and last traded at $44.9850, with a volume of 1404500 shares trading hands. The stock had previously closed at $44.56.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FTI shares. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. UBS Group reiterated an “outperform” rating on shares of TechnipFMC in a research note on Tuesday, October 28th. JPMorgan Chase & Co. increased their target price on TechnipFMC from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Citigroup boosted their price target on TechnipFMC from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Royal Bank Of Canada increased their price objective on TechnipFMC from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, TechnipFMC presently has a consensus rating of “Moderate Buy” and an average price target of $45.36.

TechnipFMC Price Performance

The stock has a 50-day simple moving average of $40.10 and a 200 day simple moving average of $36.50. 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 $18.20 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.10. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 EPS. TechnipFMC has set its FY 2025 guidance at EPS. On average, equities analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, November 18th. TechnipFMC’s dividend payout ratio is currently 8.93%.

TechnipFMC declared that its Board of Directors has initiated a share repurchase plan on Wednesday, October 22nd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 13.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at TechnipFMC

In other news, insider Thierry Conti sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider directly owned 56,352 shares of the company’s stock, valued at $2,177,441.28. This represents a 47.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $38.35, for a total transaction of $3,079,658.40. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 876,603 shares of company stock worth $33,832,588. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

Several hedge funds have recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in shares of TechnipFMC by 5,475.0% in the 3rd 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 period. Newbridge Financial Services Group Inc. acquired a new position in TechnipFMC in the third quarter valued at about $32,000. Geneos Wealth Management Inc. grew its stake in TechnipFMC by 45.3% in the first 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 period. Caitong International Asset Management Co. Ltd bought a new stake in shares of TechnipFMC in the second quarter worth about $44,000. Finally, Huntington National Bank raised its position in shares of TechnipFMC by 317.8% during the third quarter. Huntington National Bank now owns 1,195 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 909 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

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.