TD Asset Management Inc Has $68.22 Million Holdings in TechnipFMC plc $FTI

Key Points

• TD Asset Management Inc decreased its holdings in TechnipFMC plc by 13.4%, now owning approximately 1,980,740 shares worth about $68.22 million.
• Insiders, including the CFO and CEO, have collectively sold over 885,984 shares of TechnipFMC stock in recent transactions, indicating a significant decrease in their positions.
• Analysts largely favor TechnipFMC, with several reports upgrading its stock rating to "strong-buy" and adjusting price targets, highlighting a consensus average rating of "Buy."

TD Asset Management Inc trimmed its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 13.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,980,740 shares of the oil and gas company's stock after selling 305,522 shares during the period. TD Asset Management Inc owned about 0.47% of TechnipFMC worth $68,217,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in shares of TechnipFMC by 0.6% in the 1st 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 period. Cambridge Investment Research Advisors Inc. bought a new position in TechnipFMC in the first quarter valued at approximately $205,000. Credit Agricole S A boosted its holdings in shares of TechnipFMC by 170.3% in the first quarter. Credit Agricole S A now owns 94,097 shares of the oil and gas company's stock valued at $2,982,000 after buying an additional 59,281 shares during the period. Stephens Investment Management Group LLC increased its position in shares of 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 in the last quarter. Finally, OMNI 360 Wealth Inc. acquired a new stake in shares of TechnipFMC during the second quarter worth $226,000. Institutional investors and hedge funds own 96.58% of the company's stock.

Insiders Place Their Bets

In related news, CFO Alf Melin sold 113,760 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.61, for a total transaction of $4,392,273.60. Following the transaction, the chief financial officer directly owned 241,140 shares of the company's stock, valued at approximately $9,310,415.40. The trade was a 32.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas J. Pferdehirt sold 632,539 shares of the firm's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $38.62, for a total value of $24,428,656.18. Following the sale, the chief executive officer directly owned 2,917,054 shares of the company's stock, valued at $112,656,625.48. This represents a 17.82% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 885,984 shares of company stock valued at $34,180,811. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FTI has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of TechnipFMC in a research note on Wednesday, October 8th. Zacks Research raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 10th. Barclays lifted their target price on TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. upped their price target on TechnipFMC from $41.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Finally, Royal Bank Of Canada raised their price target on shares of TechnipFMC from $37.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $41.93.

TechnipFMC Price Performance

NYSE:FTI opened at $35.67 on Thursday. The stock has a market capitalization of $14.66 billion, a PE ratio of 16.82, a P/E/G ratio of 1.15 and a beta of 1.04. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $41.29. The firm has a fifty day simple moving average of $37.61 and a 200 day simple moving average of $33.56. 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 (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. The firm had revenue of $2.53 billion during the quarter, compared to analysts' expectations 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 quarter last year, the company posted $0.43 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. On average, research analysts expect that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

TechnipFMC 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.

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