Charles Schwab Investment Management Inc. Sells 180,492 Shares of TechnipFMC plc $FTI

Charles Schwab Investment Management Inc. reduced its stake in TechnipFMC plc by 4.8% in Q2, selling 180,492 shares. TechnipFMC's stock opened at $45.27, with a market cap of $18.31 billion. The company reported Q3 earnings of $0.75 per share, beating estimates. TechnipFMC announced a $2 billion share buyback program and a quarterly dividend of $0.05 per share. Insiders sold 876,603 shares valued at $33.8 million.

Charles Schwab Investment Management Inc. decreased its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,580,693 shares of the oil and gas company's stock after selling 180,492 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.87% of TechnipFMC worth $123,319,000 as of its most recent SEC filing.

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A number of other institutional investors have also added to or reduced their stakes in the business. Boston Partners boosted its position in shares of TechnipFMC by 267.5% during the 2nd quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company's stock valued at $333,041,000 after acquiring an additional 7,038,640 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of TechnipFMC by 111.4% in the 1st quarter. AQR Capital Management LLC now owns 8,735,697 shares of the oil and gas company's stock worth $273,078,000 after buying an additional 4,602,939 shares during the last quarter. Nuveen LLC purchased a new stake in shares of TechnipFMC during the 1st quarter valued at $64,217,000. Encompass Capital Advisors LLC bought a new stake in shares of TechnipFMC during the 1st quarter worth $47,535,000. Finally, Ameriprise Financial Inc. increased its stake in TechnipFMC by 9.0% in the first quarter. Ameriprise Financial Inc. now owns 18,030,976 shares of the oil and gas company's stock valued at $571,583,000 after acquiring an additional 1,492,746 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Performance

TechnipFMC stock opened at $45.27 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 cap of $18.31 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.20 and a beta of 1.00. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $45.77. The firm has a 50-day moving average of $40.46 and a 200-day moving average of $36.73.

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TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the business earned $0.64 EPS. TechnipFMC's revenue was up 12.7% compared to the same quarter last year. TechnipFMC has set its FY 2025 guidance at EPS. Sell-side analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC declared that its board has initiated a share buyback program on Wednesday, October 22nd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 13.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

TechnipFMC Dividend Announcement

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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th 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 0.4%. The ex-dividend date is Tuesday, November 18th. TechnipFMC's dividend payout ratio is currently 8.93%.

Insider Buying and Selling

In related news, CEO Douglas J. Pferdehirt sold 80,304 shares of TechnipFMC stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $38.35, for a total value of $3,079,658.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thierry Conti sold 50,000 shares of the business's stock in a transaction on Monday, September 22nd. The shares were 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 in the company, valued at approximately $2,177,441.28. The trade was a 47.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 876,603 shares of company stock valued at $33,832,588 over the last quarter. 1.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FTI shares. Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, October 4th. Zacks Research lowered TechnipFMC from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 10th. Barclays lifted their price target on shares of TechnipFMC from $51.00 to $53.00 and gave the stock an "overweight" rating in a research note on Monday, October 27th. Jefferies Financial Group upped their price objective on shares of TechnipFMC from $47.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, November 3rd. Finally, Citigroup increased their target price on shares of TechnipFMC from $45.00 to $48.00 and gave the company a "buy" rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.00.

Read Our Latest Stock Report on FTI

TechnipFMC Profile

(Free Report)

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.

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