TechnipFMC plc $FTI Shares Sold by SCP Investment LP

SCP Investment LP lessened its position in TechnipFMC plc (NYSE:FTI) by 61.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,688 shares of the oil and gas company’s stock after selling 33,912 shares during the period. TechnipFMC comprises 0.6% of SCP Investment LP’s portfolio, making the stock its 23rd largest holding. SCP Investment LP’s holdings in TechnipFMC were worth $747,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FTI. Boston Partners raised its holdings in TechnipFMC by 267.5% in the 2nd quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock valued at $333,041,000 after acquiring an additional 7,038,640 shares during the last quarter. AQR Capital Management LLC grew its position in shares of TechnipFMC by 111.4% in the first quarter. AQR Capital Management LLC now owns 8,735,697 shares of the oil and gas company’s stock valued at $273,078,000 after purchasing an additional 4,602,939 shares during the period. Nuveen LLC acquired a new position in TechnipFMC in the first quarter valued at $64,217,000. Encompass Capital Advisors LLC purchased a new position in TechnipFMC during the first quarter worth about $47,535,000. Finally, Ameriprise Financial Inc. boosted its stake in TechnipFMC by 9.0% in 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 buying an additional 1,492,746 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Activity

In other TechnipFMC news, CFO Alf Melin sold 113,760 shares of TechnipFMC stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.61, for a total transaction of $4,392,273.60. Following the sale, the chief financial officer directly owned 241,140 shares in the company, valued at $9,310,415.40. The trade was a 32.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas J. Pferdehirt sold 80,304 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $38.35, for a total value of $3,079,658.40. The SEC filing for this sale provides additional information. Insiders sold 876,603 shares of company stock worth $33,832,588 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

TechnipFMC Price Performance

FTI stock opened at $45.27 on Thursday. The firm has a market cap of $18.31 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $45.77. The stock has a 50-day simple moving average of $40.34 and a 200-day simple moving average of $36.67.

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

TechnipFMC declared that its board has approved a share buyback plan on Wednesday, October 22nd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 13.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

TechnipFMC Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FTI. BNP Paribas set a $47.00 price objective on shares of TechnipFMC and gave the stock an “outperform” rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a research report on Wednesday, October 8th. 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 report on Monday, November 3rd. Royal Bank Of Canada upped their price objective on TechnipFMC from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Finally, Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.00.

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.