Sowell Financial Services LLC Sells 30,564 Shares of TechnipFMC plc $FTI

Sowell Financial Services LLC decreased its holdings in TechnipFMC plc (NYSE:FTI) by 70.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,690 shares of the oil and gas company’s stock after selling 30,564 shares during the period. Sowell Financial Services LLC’s holdings in TechnipFMC were worth $862,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of TechnipFMC during the 2nd quarter worth approximately $3,081,514,000. Amundi boosted its position in TechnipFMC by 72.6% during the second quarter. Amundi now owns 4,358,115 shares of the oil and gas company’s stock worth $288,943,000 after purchasing an additional 1,832,581 shares during the period. Bank of America Corp DE bought a new position in TechnipFMC during the second quarter worth $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 last quarter. Finally, Danske Bank A S acquired a new position in shares of TechnipFMC in the second quarter valued at $163,822,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Trading Down 0.1%

FTI stock opened at $68.70 on Monday. TechnipFMC plc has a 52 week low of $41.06 and a 52 week high of $80.70. The company has a market capitalization of $26.71 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.09 and a beta of 0.89. The company’s 50-day simple moving average is $72.32 and its 200 day simple moving average is $68.99. 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 (NYSE:FTI) last issued its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.17. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.79 billion. TechnipFMC had a net margin of 12.04% and a return on equity of 39.82%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.75 EPS. As a group, sell-side analysts anticipate that TechnipFMC plc will post 3.23 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Tuesday, November 17th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, November 17th. TechnipFMC’s payout ratio is presently 6.29%.

Insider Activity at TechnipFMC

In related news, Director Eric Mullins acquired 6,365 shares of the stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the purchase, the director directly owned 8,070 shares in the company, valued at approximately $633,898.50. The trade was a 373.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thierry Conti sold 6,000 shares of TechnipFMC stock in a transaction on Monday, September 21st. The shares were sold at an average price of $71.85, for a total value of $431,100.00. Following the completion of the transaction, the insider directly owned 85,813 shares of the company’s stock, valued at $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. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Susquehanna cut their target price on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Barclays reduced their target price on shares of TechnipFMC from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, October 15th. Weiss Ratings lowered shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday. Wall Street Zen cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Citigroup increased their price target on shares of TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, TechnipFMC currently has an average rating of “Buy” and a consensus price target of $74.83.

TechnipFMC News Summary

Here are the key news stories impacting TechnipFMC this week:

• Positive Sentiment: Material earnings and revenue beats: TechnipFMC reported adjusted earnings of $1.05 per share, well above the $0.88 consensus estimate and up from $0.75 a year earlier. Revenue reached $2.90 billion, exceeding the $2.79 billion forecast and increasing 9.4% year over year. TechnipFMC third-quarter earnings results
• Positive Sentiment: Strong operating performance: The quarter featured an 11.28% net margin and 36.54% return on equity. Management commentary and the earnings presentation highlighted continued momentum in the business and expectations for a sustained, long deepwater cycle—an important demand driver for TechnipFMC’s subsea services and equipment. TechnipFMC deepwater cycle outlook
• Positive Sentiment: Improved growth narrative: The earnings call and presentation suggest that offshore energy investment is supporting TechnipFMC’s order and revenue outlook. Investors appear encouraged that quarterly growth is being supported by durable project activity rather than only short-term cost controls. TechnipFMC Q3 earnings call transcript
• Neutral Sentiment: Valuation remains a consideration: Articles describe FTI as potentially undervalued under a growth-at-a-reasonable-price strategy. However, the stock trades at roughly 23.9 times earnings after a substantial one-year advance, so further gains may depend on continued earnings growth and execution. TechnipFMC valuation analysis

TechnipFMC Company Profile

TechnipFMC plc (NYSE: FTI) is an energy technology and services company that designs, manufactures and delivers equipment and integrated solutions for the exploration, development and production of oil and natural gas resources. The company serves energy operators, engineering and construction firms, and other participants across the global energy industry.

TechnipFMC operates through two principal areas: Subsea and Surface Technologies. Its subsea business provides subsea production systems, subsea services, installation solutions and related technologies used to develop offshore fields.