TechnipFMC plc $FTI Stock: Vise Technologies Inc. Reduces Holdings

Vise Technologies Inc. lowered its stake in TechnipFMC plc (NYSE:FTI) by 31.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,431 shares of the oil and gas company’s stock after selling 10,499 shares during the quarter. Vise Technologies Inc.’s holdings in TechnipFMC were worth $1,524,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MGO One Seven LLC raised its stake in shares of TechnipFMC by 8.1% in the 3rd quarter. MGO One Seven LLC now owns 24,284 shares of the oil and gas company’s stock valued at $1,649,000 after purchasing an additional 1,821 shares during the period. Soltis Investment Advisors LLC grew its stake in shares of TechnipFMC by 5.9% during the 3rd quarter. Soltis Investment Advisors LLC now owns 6,761 shares of the oil and gas company’s stock worth $459,000 after acquiring an additional 375 shares in the last quarter. WPG Advisers LLC boosted its stake in shares of TechnipFMC by 686.9% during the 3rd quarter. WPG Advisers LLC now owns 1,920 shares of the oil and gas company’s stock worth $130,000 after buying an additional 1,676 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in TechnipFMC by 15.6% during the third quarter. Asset Management One Co. Ltd. now owns 194,735 shares of the oil and gas company’s stock worth $13,226,000 after acquiring an additional 26,339 shares in the last quarter. Finally, Latitude Advisors LLC acquired a new position in TechnipFMC during the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Barclays boosted their price target on TechnipFMC from $86.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Piper Sandler lifted their price target on TechnipFMC from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday. Zacks Research raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Weiss Ratings lowered TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, October 30th. Finally, Citigroup raised their price objective on TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, TechnipFMC has an average rating of “Buy” and an average price target of $78.18.

TechnipFMC Stock Performance

FTI stock traded up $1.98 during trading hours on Friday, hitting $63.57. 2,950,624 shares of the stock were exchanged, compared to its average volume of 2,775,734. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $24.72 billion, a P/E ratio of 19.99, a P/E/G ratio of 1.06 and a beta of 0.89. TechnipFMC plc has a 12 month low of $41.73 and a 12 month high of $80.70. The company has a 50-day simple moving average of $71.17 and a two-hundred day simple moving average of $69.31.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.17. TechnipFMC had a net margin of 12.04% and a return on equity of 39.82%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. On average, analysts forecast that TechnipFMC plc will post 3.28 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, insider Thierry Conti sold 6,000 shares of the business’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $71.85, for a total transaction of $431,100.00. Following the completion of the transaction, the insider owned 85,813 shares of the company’s stock, valued at approximately $6,165,664.05. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Mullins bought 6,365 shares of the company’s stock in a transaction dated 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 acquisition, the director directly owned 8,070 shares of the company’s stock, valued at approximately $633,898.50. The trade was a 373.31% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 1.40% of the company’s stock.

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.