Rhumbline Advisers Sells 31,182 Shares of TechnipFMC plc $FTI

Rhumbline Advisers trimmed its position in TechnipFMC plc (NYSE:FTI) by 7.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 367,385 shares of the oil and gas company’s stock after selling 31,182 shares during the quarter. Rhumbline Advisers owned 0.09% of TechnipFMC worth $12,653,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. grew its stake in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 340 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in TechnipFMC in the 2nd quarter worth about $44,000. Financial Network Wealth Advisors LLC boosted its holdings in TechnipFMC by 29.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company’s stock valued at $48,000 after purchasing an additional 346 shares during the period. New York State Teachers Retirement System grew its position in shares of TechnipFMC by 82.5% during the 2nd quarter. New York State Teachers Retirement System now owns 1,927 shares of the oil and gas company’s stock worth $66,000 after purchasing an additional 871 shares in the last quarter. Finally, Brooklyn Investment Group increased its holdings in shares of TechnipFMC by 2,216.1% during the first quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 2,061 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FTI. Weiss Ratings reiterated a “buy (b)” rating on shares of TechnipFMC in a research note on Wednesday, October 8th. Jefferies Financial Group lifted their price objective on TechnipFMC from $47.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. JPMorgan Chase & Co. boosted their price target on TechnipFMC from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Finally, Barclays increased their price objective on shares of TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.00.

Insider Transactions at TechnipFMC

In other news, insider Thierry Conti sold 50,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider directly owned 56,352 shares in the company, valued at approximately $2,177,441.28. This represents a 47.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alf Melin sold 113,760 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $38.61, for a total value of $4,392,273.60. Following the sale, the chief financial officer directly owned 241,140 shares in the company, valued at approximately $9,310,415.40. This trade represents a 32.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 876,603 shares of company stock worth $33,832,588. Corporate insiders own 1.80% of the company’s stock.

TechnipFMC Stock Performance

NYSE:FTI opened at $44.90 on Monday. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $45.76. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $40.57 and its 200 day simple moving average is $36.91. The firm has a market capitalization of $18.16 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00.

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

TechnipFMC Announces Dividend

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

TechnipFMC declared that its board has initiated a stock buyback plan on Wednesday, October 22nd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 13.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

TechnipFMC Company 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.