Federated Hermes Inc. Has $5.83 Million Stake 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 position in TechnipFMC plc (NYSE:FTI - Free Report) by 54.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 183,907 shares of the oil and gas company's stock after purchasing an additional 64,793 shares during the period. Federated Hermes Inc.'s holdings in TechnipFMC were worth $5,828,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System purchased a new stake in TechnipFMC in the 1st quarter worth approximately $33,000. Westpac Banking Corp purchased a new stake in TechnipFMC in the 4th quarter worth approximately $55,000. Quarry LP grew its stake in TechnipFMC by 95.9% in the 4th quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock worth $74,000 after acquiring an additional 1,248 shares during the period. GAMMA Investing LLC grew its stake in TechnipFMC by 27.0% in the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock worth $91,000 after acquiring an additional 614 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in TechnipFMC by 346.7% in the 1st quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock worth $92,000 after acquiring an additional 2,219 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Stock Down 0.6%

TechnipFMC stock traded down $0.20 during trading hours on Tuesday, hitting $35.49. The company had a trading volume of 2,930,310 shares, compared to its average volume of 4,610,950. The firm has a market capitalization of $14.59 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 1.18 and a beta of 1.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86. The firm's fifty day moving average is $34.11 and its 200-day moving average is $30.72. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $38.05.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its earnings results on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.57 by $0.11. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.49 billion. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The company'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 firm posted $0.43 earnings per share. On average, research analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FTI. Susquehanna set a $45.00 price target on shares of TechnipFMC and gave the company a "positive" rating in a report on Friday, July 25th. Citigroup restated a "buy" rating and set a $41.00 target price (up previously from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Evercore ISI lifted their price target on shares of TechnipFMC from $42.00 to $46.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Barclays boosted their target price on shares of TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Finally, Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.92.

Insider Activity

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the company's stock in a transaction on 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.