TechnipFMC plc $FTI Stock: Vise Technologies Inc. Lowers Holdings

Vise Technologies Inc. trimmed its position in TechnipFMC plc (NYSE:FTI) by 31.9% in the third quarter, Holdings Channel reports. The fund owned 22,431 shares of the oil and gas company’s stock after selling 10,499 shares during the quarter. Vise Technologies Inc.’s holdings in TechnipFMC were worth $1,524,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Triasima Portfolio Management inc. grew its position in TechnipFMC by 1.8% during the 3rd quarter. Triasima Portfolio Management inc. now owns 8,490 shares of the oil and gas company’s stock worth $577,000 after acquiring an additional 150 shares during the last quarter. ANB Bank increased its holdings in TechnipFMC by 3.4% in the 1st quarter. ANB Bank now owns 4,903 shares of the oil and gas company’s stock worth $339,000 after purchasing an additional 161 shares in the last quarter. SYM FINANCIAL Corp raised its position in TechnipFMC by 2.2% in the third quarter. SYM FINANCIAL Corp now owns 7,627 shares of the oil and gas company’s stock valued at $518,000 after purchasing an additional 167 shares during the last quarter. Signaturefd LLC raised its position in TechnipFMC by 7.3% in the third quarter. Signaturefd LLC now owns 3,546 shares of the oil and gas company’s stock valued at $241,000 after purchasing an additional 241 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of TechnipFMC by 1.9% during the third quarter. Quadrant Capital Group LLC now owns 13,427 shares of the oil and gas company’s stock valued at $950,000 after purchasing an additional 249 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FTI. Zacks Research raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Barclays lifted their target price on shares of TechnipFMC from $86.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Piper Sandler boosted their target price on shares of TechnipFMC from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday. Citigroup upped their price target on shares of TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, September 15th. Finally, Weiss Ratings downgraded shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, TechnipFMC presently has a consensus rating of “Buy” and an average price target of $78.18.

TechnipFMC Trading Up 3.2%

Shares of FTI stock traded up $1.98 on Friday, hitting $63.57. The company had a trading volume of 2,950,624 shares, compared to its average volume of 2,775,734. TechnipFMC plc has a twelve month low of $41.73 and a twelve month high of $80.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 1.09. The firm has a market cap of $24.72 billion, a P/E ratio of 19.99, a P/E/G ratio of 1.06 and a beta of 0.89. The stock’s 50-day moving average is $71.17 and its two-hundred day moving average is $69.31.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.17. TechnipFMC had a return on equity of 39.82% and a net margin of 12.04%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities research analysts anticipate that TechnipFMC plc will post 3.28 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Tuesday, November 17th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 17th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is presently 6.29%.

Insider Activity at TechnipFMC

In other news, Director Eric D. Mullins acquired 6,365 shares of TechnipFMC stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $78.55 per share, with a total value of $499,970.75. Following the purchase, the director owned 8,070 shares in the company, valued at $633,898.50. This trade represents a 373.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Thierry Conti sold 6,000 shares of the company’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $71.85, for a total transaction of $431,100.00. Following the completion of the sale, the insider directly owned 85,813 shares in the company, valued at approximately $6,165,664.05. This represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is currently owned by company insiders.

About TechnipFMC

TechnipFMC is a global technology and services company serving the energy industry. It designs and delivers equipment and solutions for offshore and onshore oil and gas projects, with a particular focus on subsea production and related services.

Its offerings include subsea production systems, subsea installation and project services, and surface wellhead and production equipment. TechnipFMC also provides engineering and project-management capabilities, working with customers to develop and operate energy projects.

The company was formed in 2017 through the combination of Technip and FMC Technologies.