Ameriprise Financial Inc. Acquires 1,492,746 Shares of TechnipFMC plc $FTI

Key Points

• Ameriprise Financial Inc. increased its holdings in TechnipFMC plc by 9.0% during the first quarter, bringing their total shares to approximately 18 million, valued at $571.6 million.
• TechnipFMC reported earnings of $0.68 per share for the last quarter, exceeding analyst expectations; the company also experienced a 9% revenue increase year-over-year.
• The company's quarterly dividend of $0.05 will be paid on September 3rd, and it has a dividend payout ratio of 9.43%.

Ameriprise Financial Inc. grew its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 18,030,976 shares of the oil and gas company's stock after purchasing an additional 1,492,746 shares during the quarter. Ameriprise Financial Inc. owned 4.30% of TechnipFMC worth $571,583,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of FTI. Boston Partners grew its holdings 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 worth $83,281,000 after acquiring an additional 2,279,247 shares during the last quarter. Nuveen LLC acquired a new position in shares of TechnipFMC in the 1st quarter worth $64,217,000. AQR Capital Management LLC grew its holdings in shares of TechnipFMC by 70.6% in the 4th quarter. AQR Capital Management LLC now owns 4,132,758 shares of the oil and gas company's stock worth $119,602,000 after acquiring an additional 1,710,183 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of TechnipFMC by 92.5% in the 4th quarter. Deutsche Bank AG now owns 2,777,040 shares of the oil and gas company's stock worth $80,368,000 after acquiring an additional 1,334,555 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of TechnipFMC by 18.0% in the 1st quarter. Invesco Ltd. now owns 7,458,847 shares of the oil and gas company's stock worth $236,371,000 after acquiring an additional 1,136,554 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Up 1.7%

NYSE FTI traded up $0.62 during trading hours on Wednesday, reaching $36.87. 730,288 shares of the company's stock traded hands, compared to its average volume of 4,303,306. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $38.05. The firm has a market cap of $15.15 billion, a PE ratio of 17.37, a PEG ratio of 1.17 and a beta of 1.04. The firm has a 50-day simple moving average of $35.00 and a 200 day simple moving average of $31.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.11. The business had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.49 billion. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, August 19th. TechnipFMC's payout ratio is 9.43%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. BTIG Research cut TechnipFMC from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Susquehanna raised their target price on TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Barclays raised their target price on TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Finally, Sanford C. Bernstein cut TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price for the company. in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.92.

Insider Activity at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $37.12, for a total value of $348,222.72. Following the transaction, the director owned 62,978 shares of the company's stock, valued at approximately $2,337,743.36. The trade was a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.