TechnipFMC plc $FTI Shares Sold by Sowell Financial Services LLC

by · The Cerbat Gem

Sowell Financial Services LLC cut its position in TechnipFMC plc (NYSE:FTI – Free Report) by 70.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,690 shares of the oil and gas company’s stock after selling 30,564 shares during the quarter. Sowell Financial Services LLC’s holdings in TechnipFMC were worth $862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new stake in shares of TechnipFMC during the 1st quarter worth $26,000. Coppell Advisory Solutions LLC bought a new position in shares of TechnipFMC in the second quarter worth about $35,000. Ascentis Independent Advisors acquired a new stake in shares of TechnipFMC in the 1st quarter valued at approximately $37,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of TechnipFMC in the 2nd quarter valued at approximately $37,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of TechnipFMC during the 2nd quarter valued at approximately $44,000. 96.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on FTI. Citigroup upped their price objective on shares of TechnipFMC from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, September 15th. UBS Group assumed coverage on shares of TechnipFMC in a research report on Monday, October 12th. They issued a “buy” rating and a $89.00 target price on the stock. Weiss Ratings cut shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday. Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Barclays lowered their price target 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. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $74.83.

Get Our Latest Report on FTI

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Eric Mullins purchased 6,365 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the acquisition, the director owned 8,070 shares in the company, valued at approximately $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thierry Conti sold 6,000 shares of the business’s stock in a transaction on 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 sale, the insider directly owned 85,813 shares in the company, valued at approximately $6,165,664.05. This represents a 6.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is currently owned by company insiders.

Key Stories Impacting TechnipFMC

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 Stock Performance

TechnipFMC stock opened at $68.70 on Monday. The business has a 50 day moving average of $72.32 and a 200-day moving average of $68.99. The company has a market capitalization of $26.71 billion, a P/E ratio of 21.60, a P/E/G ratio of 1.09 and a beta of 0.89. TechnipFMC plc has a 1 year low of $41.06 and a 1 year high of $80.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.09 and a quick ratio of 0.86.

TechnipFMC (NYSE:FTI – Get Free Report) last posted its earnings results on Thursday, October 29th. The oil and gas company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.88 by $0.17. TechnipFMC had a net margin of 12.04% and a return on equity of 39.82%. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same period last year, the company earned $0.75 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that TechnipFMC plc will post 3.23 earnings per share for the current year.

TechnipFMC Announces Dividend

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 paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is presently 6.29%.

TechnipFMC Company Profile

(Free Report)

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.

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