Federated Hermes Inc. Increases Stock Holdings in TechnipFMC plc (NYSE:FTI)

Key Points

• Federated Hermes Inc. increased its stake in TechnipFMC plc by 54.4%, owning 183,907 shares worth approximately $5.83 million after acquiring an additional 64,793 shares in the first quarter.
• TechnipFMC reported a quarterly earnings per share (EPS) of $0.68, exceeding the consensus estimate by $0.11, along with quarterly revenue of $2.53 billion, a 9.0% increase from the previous year.
• The company announced a quarterly dividend of $0.05 per share, which represents an annualized yield of 0.6%, with the ex-dividend date set for August 19th.

Federated Hermes Inc. boosted its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 54.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 183,907 shares of the oil and gas company's stock after acquiring an additional 64,793 shares during the quarter. Federated Hermes Inc.'s holdings in TechnipFMC were worth $5,828,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FTI. Bank of New York Mellon Corp boosted its stake in shares of TechnipFMC by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 1,462,924 shares of the oil and gas company's stock worth $46,360,000 after buying an additional 8,823 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of TechnipFMC in the 1st quarter worth $205,000. Stephens Investment Management Group LLC increased its holdings in TechnipFMC by 0.8% in the first quarter. Stephens Investment Management Group LLC now owns 3,439,595 shares of the oil and gas company's stock valued at $109,001,000 after buying an additional 27,884 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in shares of TechnipFMC in the first quarter valued at approximately $33,000. Finally, Farther Finance Advisors LLC lifted its holdings in TechnipFMC by 346.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock worth $92,000 after buying an additional 2,219 shares in the last quarter. Institutional investors own 96.58% of the company's stock.

TechnipFMC Stock Performance

FTI stock traded down $0.27 during midday trading on Thursday, reaching $35.31. 1,412,823 shares of the company were exchanged, compared to its average volume of 4,465,307. The firm has a market capitalization of $14.51 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 1.17 and a beta of 1.04. The business has a 50-day moving average price of $34.32 and a two-hundred day moving average price of $30.78. TechnipFMC plc has a one year low of $22.11 and a one year high of $38.05. 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. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the firm earned $0.43 earnings per share. TechnipFMC's revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts forecast that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 19th. This represents a $0.20 annualized dividend and a yield of 0.6%. TechnipFMC's payout ratio is presently 9.43%.

Insiders Place Their Bets

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $37.12, for a total transaction of $348,222.72. Following the completion of the sale, the director directly owned 62,978 shares of the company's stock, valued at approximately $2,337,743.36. This represents a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on FTI. Citigroup reissued a "buy" rating and set a $41.00 price target (up from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Barclays lifted their price objective on shares of TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. BTIG Research downgraded shares of TechnipFMC from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Susquehanna lifted their target price on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a report on Friday, July 25th. Finally, Evercore ISI increased their target price on TechnipFMC from $42.00 to $46.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $38.92.

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.