TechnipFMC plc $FTI Shares Bought by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in TechnipFMC plc by 26.2%, owning approximately 399,126 shares valued at $12.6 million as of the latest SEC filing.
• Wall Street analysts have a consensus rating of "Moderate Buy" for TechnipFMC, with price targets raised by brokerages like Evercore ISI and Barclays to $46.00 and $51.00, respectively.
• TechnipFMC recently reported $0.68 earnings per share for the quarter, exceeding expectations, and announced a quarterly dividend of $0.05 per share to be paid on September 3rd.

Raymond James Financial Inc. lifted its position in TechnipFMC plc (NYSE:FTI - Free Report) by 26.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 399,126 shares of the oil and gas company's stock after acquiring an additional 82,902 shares during the quarter. Raymond James Financial Inc. owned 0.10% of TechnipFMC worth $12,648,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in TechnipFMC by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 1,462,924 shares of the oil and gas company's stock valued at $46,360,000 after purchasing an additional 8,823 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in TechnipFMC during the first quarter worth about $205,000. Stephens Investment Management Group LLC raised its stake in TechnipFMC by 0.8% during the first quarter. Stephens Investment Management Group LLC now owns 3,439,595 shares of the oil and gas company's stock worth $109,001,000 after acquiring an additional 27,884 shares during the period. New York State Teachers Retirement System bought a new position in TechnipFMC in the first quarter worth about $33,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in TechnipFMC by 3.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,761,185 shares of the oil and gas company's stock valued at $119,192,000 after acquiring an additional 111,644 shares during the period. 96.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FTI has been the topic of several recent research reports. BTIG Research downgraded TechnipFMC from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Sanford C. Bernstein cut TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price on the stock. in a research note on Thursday, May 22nd. Citigroup reissued a "buy" rating and set a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Royal Bank Of Canada upped their price target on shares of TechnipFMC from $37.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, Barclays lifted their price objective on shares of TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.92.

Insider Buying and Selling at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of TechnipFMC stock in a transaction that occurred 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 $2,337,743.36. The trade was a 12.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.80% of the company's stock.

TechnipFMC Price Performance

NYSE:FTI traded up $0.88 during midday trading on Wednesday, hitting $38.43. 6,125,852 shares of the stock were exchanged, compared to its average volume of 4,302,353. The company has a market capitalization of $15.79 billion, a price-to-earnings ratio of 18.11, a P/E/G ratio of 1.18 and a beta of 1.10. 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 one year low of $22.11 and a one year high of $39.06. The business has a 50-day moving average price of $35.22 and a two-hundred day moving average price of $31.40.

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

TechnipFMC Announces Dividend

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

TechnipFMC Company Profile

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.