Wakefield Asset Management LLLP Buys 8,490 Shares of TechnipFMC plc $FTI

Wakefield Asset Management LLLP lifted its stake in TechnipFMC plc (NYSE:FTI) by 11.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,738 shares of the oil and gas company’s stock after buying an additional 8,490 shares during the period. Wakefield Asset Management LLLP’s holdings in TechnipFMC were worth $2,849,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of FTI. AQR Capital Management LLC grew its position in TechnipFMC by 111.4% in the first quarter. AQR Capital Management LLC now owns 8,735,697 shares of the oil and gas company’s stock valued at $273,078,000 after acquiring an additional 4,602,939 shares during the period. Boston Partners boosted its stake in shares of TechnipFMC by 648.3% in the 1st quarter. Boston Partners now owns 2,630,793 shares of the oil and gas company’s stock valued at $83,281,000 after purchasing an additional 2,279,247 shares in the last quarter. Nuveen LLC acquired a new stake in shares of TechnipFMC in the 1st quarter valued at $64,217,000. Encompass Capital Advisors LLC bought a new stake in shares of TechnipFMC in the 1st quarter worth about $47,535,000. Finally, Ameriprise Financial Inc. increased its position in shares of TechnipFMC by 9.0% during the 1st quarter. Ameriprise Financial Inc. now owns 18,030,976 shares of the oil and gas company’s stock worth $571,583,000 after purchasing an additional 1,492,746 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of FTI stock opened at $41.37 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $16.73 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 1.20 and a beta of 1.04. The firm’s 50 day moving average is $38.54 and its 200-day moving average is $34.69. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $42.65.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.10. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.60 billion. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. TechnipFMC’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 EPS. TechnipFMC has set its FY 2025 guidance at EPS. Sell-side analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

TechnipFMC announced that its Board of Directors has approved a stock repurchase plan on Wednesday, October 22nd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 13.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FTI shares. BTIG Research downgraded shares of TechnipFMC from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Susquehanna raised their price objective on shares of TechnipFMC from $40.00 to $45.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Piper Sandler boosted their target price on TechnipFMC from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Finally, BNP Paribas Exane raised TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 price target for the company 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $44.64.

Insider Activity at TechnipFMC

In other news, CEO Douglas J. Pferdehirt sold 632,539 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.62, for a total value of $24,428,656.18. Following the transaction, the chief executive officer owned 2,917,054 shares of the company’s stock, valued at approximately $112,656,625.48. This trade represents a 17.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thierry Conti sold 50,000 shares of TechnipFMC stock in a transaction that occurred on 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 sale, the insider owned 56,352 shares of the company’s stock, valued at approximately $2,177,441.28. This represents a 47.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 876,603 shares of company stock worth $33,832,588 over the last 90 days. Insiders own 1.80% of the company’s stock.

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.