US Bancorp DE Reduces Holdings in TechnipFMC plc $FTI

US Bancorp DE decreased its position in shares of TechnipFMC plc (NYSE:FTI) by 9.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in TechnipFMC by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,462,924 shares of the oil and gas company’s stock worth $46,360,000 after purchasing an additional 8,823 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of TechnipFMC in the first quarter worth $205,000. Credit Agricole S A increased its stake 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 worth $2,982,000 after buying an additional 59,281 shares during the last quarter. Stephens Investment Management Group LLC increased its stake in shares of TechnipFMC by 0.8% in 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 buying an additional 27,884 shares during the last quarter. Finally, OMNI 360 Wealth Inc. bought a new stake in shares of TechnipFMC in the 2nd quarter worth about $226,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Down 0.1%

TechnipFMC stock opened at $35.97 on Wednesday. TechnipFMC plc has a one year low of $22.11 and a one year high of $41.29. 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 firm has a market capitalization 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 company has a 50-day simple moving average of $37.61 and a 200-day simple moving average of $33.55.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.57 by $0.11. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the prior year, the firm earned $0.43 EPS. TechnipFMC’s quarterly revenue was up 9.0% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. As a group, equities analysts expect that TechnipFMC plc will post 1.63 earnings per share 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. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. TechnipFMC’s dividend payout ratio is presently 9.43%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FTI. Royal Bank Of Canada boosted their target price 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. Susquehanna boosted their price target on TechnipFMC from $40.00 to $45.00 and gave the company a “positive” rating in a report on Friday, July 25th. BNP Paribas set a $47.00 price target on TechnipFMC and gave the company an “outperform” rating in a report on Friday. Citigroup reiterated a “buy” rating and issued a $41.00 price target (up from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Finally, Evercore ISI boosted their target price on shares of TechnipFMC from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $41.93.

Insiders Place Their Bets

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the 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 transaction, the director owned 62,978 shares of the company’s stock, valued at approximately $2,337,743.36. This represents a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Douglas J. Pferdehirt sold 632,539 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.62, for a total transaction of $24,428,656.18. Following the completion of the transaction, the chief executive officer 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. In the last ninety days, insiders sold 885,984 shares of company stock worth $34,180,811. 1.80% of the stock is owned by company insiders.

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.