Northern Trust Corp Sells 135,510 Shares of TechnipFMC plc $FTI

Key Points

• Northern Trust Corp reduced its stake in TechnipFMC plc by 5.1%, selling 135,510 shares during the first quarter, leaving them with 2,523,230 shares valued at approximately $79.96 million.
• Several analysts have issued updated ratings on TechnipFMC, with Citigroup maintaining a "buy" rating and increasing its price target to $41, while Barclays raised their price target from $45 to $51.
• The company recently declared a quarterly dividend of $0.05 per share, representing an annualized dividend yield of 0.6%, with a payout ratio of 9.43%.

Northern Trust Corp lessened its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 5.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,523,230 shares of the oil and gas company's stock after selling 135,510 shares during the period. Northern Trust Corp owned 0.60% of TechnipFMC worth $79,961,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Mariner LLC boosted its holdings in TechnipFMC by 12.6% in the fourth quarter. Mariner LLC now owns 25,219 shares of the oil and gas company's stock valued at $730,000 after acquiring an additional 2,819 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in TechnipFMC by 851.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 18,412 shares of the oil and gas company's stock valued at $533,000 after acquiring an additional 16,476 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in TechnipFMC in the fourth quarter valued at about $506,000. Integrated Wealth Concepts LLC bought a new position in TechnipFMC in the fourth quarter valued at about $257,000. Finally, Voya Investment Management LLC boosted its holdings in TechnipFMC by 1.8% in the fourth quarter. Voya Investment Management LLC now owns 959,595 shares of the oil and gas company's stock valued at $27,771,000 after acquiring an additional 16,764 shares during the last quarter. Institutional investors own 96.58% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup reiterated a "buy" rating and issued a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Sanford C. Bernstein cut TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a report on Thursday, May 22nd. Barclays raised their price target on TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Susquehanna raised their target price on TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Finally, Evercore ISI raised their target price on TechnipFMC from $42.00 to $46.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, TechnipFMC currently has a consensus rating of "Moderate Buy" and an average price target of $38.92.

TechnipFMC Price Performance

Shares of FTI opened at $36.0840 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $38.05. The stock has a market cap of $14.83 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 1.16 and a beta of 1.04. The stock's 50-day moving average price is $34.95 and its two-hundred day moving average price is $31.12.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.11. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%.TechnipFMC's revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. On average, equities analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. TechnipFMC's dividend payout ratio (DPR) is currently 9.43%.

Insider Activity at TechnipFMC

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

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.

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