Truist Financial Corp Grows Position in TechnipFMC plc $FTI

Truist Financial Corp lifted its stake in TechnipFMC plc (NYSE:FTI) by 12.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,819 shares of the oil and gas company’s stock after buying an additional 5,252 shares during the quarter. Truist Financial Corp’s holdings in TechnipFMC were worth $1,681,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of FTI. New York State Teachers Retirement System purchased a new position in shares of TechnipFMC in the first quarter worth $33,000. Geneos Wealth Management Inc. lifted its holdings in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after buying an additional 340 shares in the last quarter. Financial Network Wealth Advisors LLC lifted its holdings in shares of TechnipFMC by 29.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company’s stock worth $48,000 after buying an additional 346 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of TechnipFMC by 2,216.1% in the first quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company’s stock worth $68,000 after buying an additional 2,061 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA lifted its holdings in shares of TechnipFMC by 67.2% in the second quarter. Compagnie Lombard Odier SCmA now owns 2,608 shares of the oil and gas company’s stock worth $90,000 after buying an additional 1,048 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Down 3.1%

FTI stock opened at $35.77 on Friday. The firm’s fifty day simple moving average is $37.59 and its two-hundred day simple moving average is $33.48. 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 stock has a market capitalization of $14.70 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 1.15 and a beta of 1.04. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $41.29.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 9.60% and a return on equity of 29.42%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $0.43 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. As a group, analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

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

Insider Activity at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the firm’s stock in a transaction that occurred on 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 approximately $2,337,743.36. This trade represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thierry Conti sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.64, for a total transaction of $1,932,000.00. Following the transaction, the insider directly owned 56,352 shares in the company, valued at approximately $2,177,441.28. This trade represents a 47.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders 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 topic of several research analyst reports. 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 report on Friday, July 25th. Citigroup reaffirmed a “buy” rating and set a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. BNP Paribas set a $47.00 price target on shares of TechnipFMC and gave the company an “outperform” rating in a research note on Friday. Susquehanna upped their price target on shares of TechnipFMC from $40.00 to $45.00 and gave the company a “positive” rating in a research note on Friday, July 25th. Finally, JPMorgan Chase & Co. upped their price target 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. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.67.

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.