SYM FINANCIAL Corp Reduces Stock Position in TechnipFMC plc $FTI

SYM FINANCIAL Corp trimmed its position in TechnipFMC plc (NYSE:FTI) by 17.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 6,553 shares of the oil and gas company’s stock after selling 1,359 shares during the period. SYM FINANCIAL Corp’s holdings in TechnipFMC were worth $226,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FTI. New York State Teachers Retirement System purchased a new stake in shares of TechnipFMC in the first quarter worth $33,000. Geneos Wealth Management Inc. raised its holdings in shares of TechnipFMC by 45.3% in the 1st 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 purchased a new stake in shares of TechnipFMC in the 2nd quarter valued at about $44,000. Financial Network Wealth Advisors LLC raised its stake in TechnipFMC by 29.7% in the first 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 in the last quarter. Finally, Brooklyn Investment Group raised its stake in TechnipFMC by 2,216.1% in the first quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 2,061 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Thierry Conti sold 50,000 shares of TechnipFMC stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $38.64, for a total transaction of $1,932,000.00. Following the transaction, the insider directly owned 56,352 shares of the company’s stock, valued at $2,177,441.28. The trade was a 47.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alf Melin sold 113,760 shares of TechnipFMC stock in a transaction dated 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 transaction, the chief financial officer directly owned 241,140 shares in the company, valued at approximately $9,310,415.40. The trade was a 32.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 876,603 shares of company stock valued at $33,832,588. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. BTIG Research cut TechnipFMC from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Citigroup reissued a “buy” rating and set a $41.00 price target (up from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Royal Bank Of Canada lifted their target price on shares of TechnipFMC from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Tuesday. Piper Sandler lifted their target price on shares of TechnipFMC from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, BNP Paribas Exane upgraded TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 price objective on the stock in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, TechnipFMC has a consensus rating of “Buy” and a consensus target price of $44.14.

TechnipFMC Stock Up 1.5%

NYSE:FTI opened at $41.13 on Wednesday. The company has a market capitalization of $16.64 billion, a PE ratio of 18.36, a P/E/G ratio of 1.19 and a beta of 1.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $41.56. The firm’s 50-day moving average price is $38.18 and its 200-day moving average price is $34.35.

TechnipFMC (NYSE:FTI) last released 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 return on equity of 30.23% and a net margin of 9.67%.The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was up 12.7% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. On average, equities analysts predict that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC declared that its board has authorized a share repurchase plan on Wednesday, October 22nd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 13.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Tuesday, November 18th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, November 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 8.93%.

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.