Vaughan Nelson Investment Management L.P. Sells 403,247 Shares of TechnipFMC plc $FTI

Vaughan Nelson Investment Management L.P. reduced its stake in shares of TechnipFMC plc (NYSE:FTI) by 37.9% during the second quarter, Holdings Channel reports. The institutional investor owned 660,423 shares of the oil and gas company’s stock after selling 403,247 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in TechnipFMC were worth $22,745,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of TechnipFMC by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 1,462,924 shares of the oil and gas company’s stock valued at $46,360,000 after buying an additional 8,823 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of TechnipFMC during the first quarter valued at about $205,000. Credit Agricole S A grew its stake in shares of TechnipFMC by 170.3% during the first quarter. Credit Agricole S A now owns 94,097 shares of the oil and gas company’s stock valued at $2,982,000 after buying an additional 59,281 shares during the last quarter. Stephens Investment Management Group LLC grew its stake in shares of TechnipFMC by 0.8% during the first quarter. Stephens Investment Management Group LLC now owns 3,439,595 shares of the oil and gas company’s stock valued at $109,001,000 after buying an additional 27,884 shares during the last quarter. Finally, OMNI 360 Wealth Inc. bought a new position in shares of TechnipFMC during the second quarter valued at about $226,000. 96.58% of the stock is owned by institutional investors.

Insider Transactions at TechnipFMC

In other TechnipFMC news, CEO Douglas J. Pferdehirt sold 80,304 shares of TechnipFMC stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.35, for a total transaction of $3,079,658.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Alf Melin sold 113,760 shares of TechnipFMC stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $38.61, for a total transaction of $4,392,273.60. Following the transaction, the chief financial officer owned 241,140 shares of the company’s stock, valued at $9,310,415.40. The trade was a 32.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 885,984 shares of company stock valued at $34,180,811. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FTI. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. raised their target price on TechnipFMC from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday. BTIG Research cut TechnipFMC from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a research note on Saturday, September 27th. Finally, Susquehanna raised their target price on TechnipFMC from $40.00 to $45.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.21.

TechnipFMC Stock Performance

TechnipFMC stock opened at $38.02 on Friday. The stock’s 50 day simple moving average is $37.51 and its two-hundred day simple moving average is $33.22. 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 stock has a market cap of $15.63 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.22 and a beta of 1.04. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $41.29.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.11. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.49 billion. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%.The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 EPS. TechnipFMC has set its FY 2025 guidance at EPS. As a group, analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, August 19th. TechnipFMC’s payout ratio is presently 9.43%.

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.