TechnipFMC plc $FTI Stock: Calamos Advisors LLC Boosts Holdings

Calamos Advisors LLC increased its stake in shares of TechnipFMC plc (NYSE:FTI) by 20.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 312,713 shares of the oil and gas company’s stock after buying an additional 53,255 shares during the quarter. Calamos Advisors LLC’s holdings in TechnipFMC were worth $21,239,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in FTI. BlackRock Inc. purchased a new position in TechnipFMC in the 2nd quarter worth $3,081,514,000. Amundi grew its stake in TechnipFMC by 72.6% during the 2nd quarter. Amundi now owns 4,358,115 shares of the oil and gas company’s stock valued at $288,943,000 after purchasing an additional 1,832,581 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of TechnipFMC in the second quarter valued at about $226,069,000. Bank of New York Mellon Corp increased its holdings in shares of TechnipFMC by 7.3% in the first quarter. Bank of New York Mellon Corp now owns 2,878,798 shares of the oil and gas company’s stock valued at $199,011,000 after purchasing an additional 194,799 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of TechnipFMC by 195.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,791,873 shares of the oil and gas company’s stock valued at $189,624,000 after purchasing an additional 1,847,158 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Price Performance

NYSE:FTI opened at $63.57 on Friday. The firm’s fifty day moving average is $71.17 and its two-hundred day moving average is $69.31. The firm has a market cap of $24.72 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 0.99 and a beta of 0.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 1.09. TechnipFMC plc has a one year low of $41.73 and a one year high of $80.70.

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

TechnipFMC Dividend Announcement

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

Insider Activity

In related news, Director Eric D. Mullins purchased 6,365 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was bought at an average cost of $78.55 per share, with a total value of $499,970.75. Following the completion of the acquisition, the director owned 8,070 shares of the company’s stock, valued at $633,898.50. The trade was a 373.31% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thierry Conti sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $71.85, for a total value of $431,100.00. Following the completion of the sale, the insider owned 85,813 shares in the company, valued at approximately $6,165,664.05. This represents a 6.54% decrease in their position. 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 owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FTI shares. UBS Group assumed coverage on TechnipFMC in a report on Monday, October 12th. They set a “buy” rating and a $89.00 target price for the company. Citigroup increased their price target on shares of TechnipFMC from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, September 15th. Barclays increased their price target on shares of TechnipFMC from $86.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. Wall Street Zen lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Piper Sandler lifted their price objective on shares of TechnipFMC from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, TechnipFMC has a consensus rating of “Buy” and an average target price of $78.18.

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.