Renaissance Group LLC Purchases New Position in TechnipFMC plc $FTI

Renaissance Group LLC acquired a new position in TechnipFMC plc (NYSE:FTI) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 193,969 shares of the oil and gas company’s stock, valued at approximately $6,680,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FTI. Diversified Trust Co lifted its position in shares of TechnipFMC by 0.8% in the second quarter. Diversified Trust Co now owns 40,830 shares of the oil and gas company’s stock valued at $1,406,000 after acquiring an additional 306 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares in the last quarter. Financial Network Wealth Advisors LLC grew its position in shares of 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 purchasing an additional 346 shares in the last quarter. Diversify Advisory Services LLC increased its holdings in shares of TechnipFMC by 5.1% in the first quarter. Diversify Advisory Services LLC now owns 7,506 shares of the oil and gas company’s stock valued at $238,000 after purchasing an additional 362 shares during the last quarter. Finally, Sigma Planning Corp lifted its position in 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 buying an additional 558 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FTI. Jefferies Financial Group lifted their price target on shares of TechnipFMC from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Evercore ISI upped their price target on TechnipFMC from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a research report on Wednesday, October 8th. UBS Group reaffirmed an “outperform” rating on shares of TechnipFMC in a research note on Tuesday, October 28th. Finally, Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. 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 data from MarketBeat, TechnipFMC currently has an average rating of “Moderate Buy” and an average price target of $45.36.

Insider Activity at TechnipFMC

In related news, CFO Alf Melin sold 113,760 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.61, for a total value of $4,392,273.60. Following the completion of the sale, the chief financial officer owned 241,140 shares in the company, valued at $9,310,415.40. This trade represents a 32.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 $2,177,441.28. This trade represents a 47.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 876,603 shares of company stock worth $33,832,588 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

TechnipFMC Stock Up 2.5%

Shares of NYSE FTI opened at $43.79 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $44.33. The company has a market capitalization of $17.72 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The business has a 50-day moving average of $39.77 and a two-hundred day moving average of $36.09.

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

TechnipFMC Announces Dividend

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 $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 dividend payout ratio (DPR) is currently 8.93%.

TechnipFMC announced that its board has approved a stock buyback program 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 repurchase up to 13.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

TechnipFMC 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.