Wakefield Asset Management LLLP Has $2.85 Million Position in TechnipFMC plc $FTI

Wakefield Asset Management LLLP grew its stake in TechnipFMC plc (NYSE:FTI) by 11.4% in the second quarter, HoldingsChannel.com reports. The fund owned 82,738 shares of the oil and gas company’s stock after acquiring an additional 8,490 shares during the period. Wakefield Asset Management LLLP’s holdings in TechnipFMC were worth $2,849,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. boosted its stake 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 acquiring an additional 1,492,746 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in TechnipFMC by 2.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,952,064 shares of the oil and gas company’s stock worth $315,381,000 after purchasing an additional 202,599 shares during the period. AQR Capital Management LLC boosted its position in shares of 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 worth $273,078,000 after purchasing an additional 4,602,939 shares in the last quarter. Invesco Ltd. boosted its position in shares of TechnipFMC by 18.0% during the first quarter. Invesco Ltd. now owns 7,458,847 shares of the oil and gas company’s stock worth $236,371,000 after purchasing an additional 1,136,554 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of TechnipFMC by 21.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,124,326 shares of the oil and gas company’s stock valued at $162,390,000 after buying an additional 910,891 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other TechnipFMC news, 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 sale, the insider directly owned 56,352 shares of the company’s stock, valued at $2,177,441.28. The trade was a 47.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Douglas J. Pferdehirt sold 632,539 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $38.62, for a total transaction of $24,428,656.18. Following the transaction, the chief executive officer owned 2,917,054 shares of the company’s stock, valued at approximately $112,656,625.48. This represents a 17.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 876,603 shares of company stock worth $33,832,588. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a research note on Wednesday, October 8th. Royal Bank Of Canada increased their price target on TechnipFMC from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Citigroup raised their price target on TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday. Susquehanna boosted their price objective on TechnipFMC from $40.00 to $45.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Finally, Evercore ISI increased their target price on TechnipFMC from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $44.64.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $41.37 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. The firm has a market cap of $16.73 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 1.20 and a beta of 1.04. TechnipFMC plc has a one year low of $22.11 and a one year high of $42.65. The stock’s 50-day moving average is $38.54 and its 200-day moving average is $34.69.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.TechnipFMC’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. TechnipFMC has set its FY 2025 guidance at EPS. Equities analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC announced that its board has initiated a share repurchase plan on Wednesday, October 22nd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy 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.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Tuesday, November 18th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, November 18th. TechnipFMC’s payout ratio is currently 8.93%.

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.