Swiss National Bank Decreases Position in TechnipFMC plc $FTI

Swiss National Bank reduced its stake in TechnipFMC plc (NYSE:FTI) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 803,600 shares of the oil and gas company’s stock after selling 20,700 shares during the period. Swiss National Bank owned 0.20% of TechnipFMC worth $27,676,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Diversified Trust Co boosted its holdings in shares of TechnipFMC by 0.8% in 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 position 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 last quarter. Financial Network Wealth Advisors LLC boosted its stake in TechnipFMC by 29.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company’s stock valued at $48,000 after acquiring an additional 346 shares in the last quarter. Sigma Planning Corp increased its position in shares of TechnipFMC by 4.9% during the second quarter. Sigma Planning Corp now owns 11,917 shares of the oil and gas company’s stock worth $410,000 after purchasing an additional 558 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of TechnipFMC by 2.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 31,335 shares of the oil and gas company’s stock worth $1,079,000 after purchasing an additional 615 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Buying and Selling

In other news, CEO Douglas J. Pferdehirt sold 632,539 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.62, for a total value of $24,428,656.18. Following the completion of the transaction, the chief executive officer owned 2,917,054 shares in the company, valued at $112,656,625.48. This trade represents a 17.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thierry Conti sold 50,000 shares of the firm’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 owned 56,352 shares of the company’s stock, valued at $2,177,441.28. This trade represents a 47.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 876,603 shares of company stock valued at $33,832,588 over the last quarter. Company insiders own 1.80% of the company’s stock.

TechnipFMC Trading Up 1.0%

Shares of TechnipFMC stock opened at $45.00 on Wednesday. The firm has a market cap of $18.20 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $45.09. The company’s 50-day simple moving average is $40.22 and its 200-day simple moving average is $36.61. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, beating 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 firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. TechnipFMC has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC declared that its Board of Directors has initiated a share buyback 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 repurchase up to 13.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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 dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, November 18th. TechnipFMC’s dividend payout ratio is currently 8.93%.

Analyst Upgrades and Downgrades

FTI has been the subject of a number of research analyst reports. UBS Group reissued an “outperform” rating on shares of TechnipFMC in a research report on Tuesday, October 28th. Piper Sandler boosted their price objective on TechnipFMC from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Jefferies Financial Group lifted their target price on shares of TechnipFMC from $47.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. One equities research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $45.36.

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.