State of Wyoming Trims Stock Position in TechnipFMC plc $FTI

Key Points

• The State of Wyoming sold 10,951 shares of TechnipFMC plc, reducing its stake by 50.1% to 10,889 shares, with holdings valued at approximately $345,000.
• TechnipFMC recently reported $0.68 earnings per share for the quarter, surpassing analysts' estimates, with revenue rising 9.0% year-over-year to $2.53 billion.
• The firm declared a quarterly dividend of $0.05 per share, with an annualized dividend yield of 0.5%, scheduled for payment on September 3rd.

State of Wyoming lowered its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 50.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,889 shares of the oil and gas company's stock after selling 10,951 shares during the quarter. State of Wyoming's holdings in TechnipFMC were worth $345,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Ameriprise Financial Inc. grew its position in TechnipFMC by 31.5% during the fourth quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock valued at $478,620,000 after buying an additional 3,962,315 shares during the period. Boston Partners grew its position in TechnipFMC by 648.3% during the first quarter. Boston Partners now owns 2,630,793 shares of the oil and gas company's stock valued at $83,281,000 after buying an additional 2,279,247 shares during the period. Nuveen LLC acquired a new stake in TechnipFMC during the first quarter valued at $64,217,000. Deutsche Bank AG grew its position in TechnipFMC by 92.5% during the fourth quarter. Deutsche Bank AG now owns 2,777,040 shares of the oil and gas company's stock valued at $80,368,000 after buying an additional 1,334,555 shares during the period. Finally, Invesco Ltd. grew its position in TechnipFMC by 18.0% during the first quarter. Invesco Ltd. now owns 7,458,847 shares of the oil and gas company's stock valued at $236,371,000 after buying an additional 1,136,554 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Price Performance

Shares of NYSE:FTI traded up $1.45 during midday trading on Thursday, hitting $39.70. The company's stock had a trading volume of 7,824,799 shares, compared to its average volume of 4,344,186. The business's 50 day simple moving average is $35.31 and its 200 day simple moving average is $31.45. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.10. The company has a market cap of $16.32 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 1.18 and a beta of 1.10. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $39.85.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.11. The firm had revenue of $2.53 billion for 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% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. On average, analysts forecast that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th were paid 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 was Tuesday, August 19th. TechnipFMC's dividend payout ratio (DPR) is currently 9.43%.

Insider Buying and Selling

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of TechnipFMC 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 transaction, the director directly owned 62,978 shares of the company's stock, valued at $2,337,743.36. The trade was a 12.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on FTI. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. BTIG Research lowered shares of TechnipFMC from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Sanford C. Bernstein downgraded shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price objective on the stock. in a report on Thursday, May 22nd. Citigroup reaffirmed a "buy" rating and set a $41.00 price objective (up from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Finally, Royal Bank Of Canada increased their price objective on shares of TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.