US Bancorp DE Decreases Stock Position in TechnipFMC plc $FTI

Key Points

• US Bancorp DE reduced its stake in TechnipFMC plc by 9.6% during Q2, now holding 71,200 shares valued at approximately $2.45 million.
• Multiple institutional investors have increased their positions in TechnipFMC, with 96.58% of the stock now owned by hedge funds and institutional investors.
• TechnipFMC recently reported strong earnings, with an EPS of $0.68 for Q2, exceeding estimates, and has received a consensus rating of Buy from analysts.

US Bancorp DE cut its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 9.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,200 shares of the oil and gas company's stock after selling 7,581 shares during the period. US Bancorp DE's holdings in TechnipFMC were worth $2,452,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. New York State Teachers Retirement System purchased a new stake in shares of TechnipFMC in the first quarter valued at about $33,000. Geneos Wealth Management Inc. lifted its stake in TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock valued at $35,000 after buying an additional 340 shares in the last quarter. Financial Network Wealth Advisors LLC lifted its stake in TechnipFMC by 29.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company's stock valued at $48,000 after buying an additional 346 shares in the last quarter. Brooklyn Investment Group lifted its stake in TechnipFMC by 2,216.1% in the 1st quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company's stock valued at $68,000 after buying an additional 2,061 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA lifted its stake in TechnipFMC by 67.2% in the 2nd quarter. Compagnie Lombard Odier SCmA now owns 2,608 shares of the oil and gas company's stock valued at $90,000 after buying an additional 1,048 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FTI. Citigroup restated a "buy" rating and issued a $41.00 price objective (up from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Susquehanna upped their target price on shares of TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a report on Friday, July 25th. Barclays upped their target price on shares of TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, July 25th. BTIG Research downgraded shares of TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of TechnipFMC from $41.00 to $43.00 and gave the company an "overweight" rating in a research note on Thursday, October 2nd. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, TechnipFMC currently has a consensus rating of "Buy" and a consensus target price of $41.93.

TechnipFMC Stock Performance

NYSE:FTI opened at $35.97 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market cap of $14.78 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.15 and a beta of 1.04. The firm's 50 day moving average is $37.61 and its two-hundred day moving average is $33.55. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $41.29.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its 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 business 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%.The business's quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the company posted $0.43 EPS. TechnipFMC has set its FY 2025 guidance at EPS. Analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors 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 annualized dividend and a yield of 0.6%. TechnipFMC's dividend payout ratio (DPR) is presently 9.43%.

Insider Buying and Selling at TechnipFMC

In related news, CEO Douglas J. Pferdehirt sold 632,539 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer owned 2,917,054 shares in the company, valued at approximately $112,656,625.48. This trade represents a 17.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thierry Conti sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $38.64, for a total transaction of $1,932,000.00. Following the completion of the transaction, the insider owned 56,352 shares in the company, valued at $2,177,441.28. The trade was a 47.01% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 885,984 shares of company stock worth $34,180,811. 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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