Price T Rowe Associates Inc. MD Decreases Stake in TechnipFMC plc $FTI

Price T Rowe Associates Inc. MD lowered its stake in TechnipFMC plc (NYSE:FTI) by 9.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,495,926 shares of the oil and gas company’s stock after selling 4,453,766 shares during the period. Price T Rowe Associates Inc. MD owned 0.11% of TechnipFMC worth $1,410,077,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FTI. Ameriprise Financial Inc. raised its holdings in shares of TechnipFMC by 31.5% in the fourth quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company’s stock worth $478,620,000 after buying an additional 3,962,315 shares during the last quarter. Boston Partners raised its holdings in shares of TechnipFMC by 648.3% during the first quarter. Boston Partners now owns 2,630,793 shares of the oil and gas company’s stock worth $83,281,000 after purchasing an additional 2,279,247 shares during the last quarter. Nuveen LLC purchased a new position in shares of TechnipFMC during the first quarter worth $64,217,000. AQR Capital Management LLC raised its holdings in shares of TechnipFMC by 70.6% during the fourth quarter. AQR Capital Management LLC now owns 4,132,758 shares of the oil and gas company’s stock worth $119,602,000 after purchasing an additional 1,710,183 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of TechnipFMC by 92.5% during the fourth quarter. Deutsche Bank AG now owns 2,777,040 shares of the oil and gas company’s stock worth $80,368,000 after purchasing an additional 1,334,555 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on FTI shares. Susquehanna raised their target price on shares of TechnipFMC from $40.00 to $45.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Sanford C. Bernstein cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 target price for the company. in a report on Thursday, May 22nd. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Royal Bank Of Canada raised their target price on shares of TechnipFMC from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Finally, Citigroup reissued a “buy” rating and set a $41.00 target price (up previously from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.92.

Insiders Place Their Bets

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the business’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $37.12, for a total transaction of $348,222.72. Following the transaction, the director directly owned 62,978 shares in the company, valued at approximately $2,337,743.36. The trade was a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

TechnipFMC Stock Up 1.5%

FTI opened at $35.2760 on Friday. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $38.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.10. The company has a fifty day moving average of $34.92 and a two-hundred day moving average of $31.08. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 1.11 and a beta of 1.04.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.11. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the business earned $0.43 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. TechnipFMC has set its FY 2025 guidance at EPS. On average, research analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Tuesday, August 19th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. TechnipFMC’s payout ratio is presently 9.43%.

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.