Strs Ohio Takes $8.11 Million Position in TechnipFMC plc $FTI

Key Points

• Strs Ohio acquired a new position in TechnipFMC plc, purchasing 256,000 shares valued at approximately $8.11 million in the first quarter.
• TechnipFMC reported a 12-month high stock price of $41.29, with a current market capitalization of $16.37 billion and a recent earnings per share (EPS) of $0.68 surpassing analyst estimates.
• Multiple research firms have upgraded their ratings on TechnipFMC, with target prices ranging from $40.00 to $51.00, reflecting positive sentiment about the company's growth potential.

Strs Ohio bought a new position in TechnipFMC plc (NYSE:FTI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 256,000 shares of the oil and gas company's stock, valued at approximately $8,113,000. Strs Ohio owned about 0.06% of TechnipFMC at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FTI. AQR Capital Management LLC increased its stake in TechnipFMC by 111.4% in the 1st quarter. AQR Capital Management LLC now owns 8,735,697 shares of the oil and gas company's stock worth $273,078,000 after purchasing an additional 4,602,939 shares during the period. Boston Partners increased its stake in TechnipFMC by 648.3% in the 1st quarter. Boston Partners now owns 2,630,793 shares of the oil and gas company's stock worth $83,281,000 after purchasing an additional 2,279,247 shares during the period. Nuveen LLC purchased a new position in TechnipFMC in the 1st quarter worth approximately $64,217,000. Encompass Capital Advisors LLC purchased a new position in TechnipFMC in the 1st quarter worth approximately $47,535,000. Finally, Ameriprise Financial Inc. increased its stake in TechnipFMC by 9.0% in the 1st quarter. Ameriprise Financial Inc. now owns 18,030,976 shares of the oil and gas company's stock worth $571,583,000 after purchasing an additional 1,492,746 shares during the period. Institutional investors own 96.58% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FTI. Royal Bank Of Canada boosted their target price on TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Barclays boosted their target price on TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. 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 research note on Thursday, May 22nd. Citigroup reaffirmed a "buy" rating and issued a $41.00 price target (up from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Finally, Wall Street Zen raised TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.92.

TechnipFMC Stock Performance

NYSE:FTI opened at $39.83 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 12-month low of $22.11 and a 12-month high of $41.29. The stock has a 50-day moving average price of $36.02 and a 200 day moving average price of $31.99. The stock has a market capitalization of $16.37 billion, a P/E ratio of 18.79, a P/E/G ratio of 1.27 and a beta of 1.10.

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

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th were issued a $0.05 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. TechnipFMC's dividend payout ratio (DPR) is currently 9.43%.

Insider Activity

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $37.12, for a total value of $348,222.72. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.

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