TechnipFMC plc $FTI Stock Holdings Lessened by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its holdings in TechnipFMC plc (NYSE:FTI) by 14.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,289,370 shares of the oil and gas company’s stock after selling 2,072,224 shares during the period. Ameriprise Financial Inc. owned about 3.04% of TechnipFMC worth $484,817,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of FTI. Blue Trust Inc. boosted its position in shares of TechnipFMC by 5,475.0% during the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after buying an additional 657 shares during the period. Newbridge Financial Services Group Inc. bought a new position in shares of TechnipFMC during the 3rd quarter valued at about $32,000. Geneos Wealth Management Inc. boosted its holdings in TechnipFMC by 45.3% during 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. Huntington National Bank grew its holdings in shares of TechnipFMC by 317.8% in the 3rd quarter. Huntington National Bank now owns 1,195 shares of the oil and gas company’s stock worth $47,000 after acquiring an additional 909 shares during the last quarter. Finally, McIlrath & Eck LLC lifted its position in shares of TechnipFMC by 476.3% in the 3rd quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,024 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Douglas J. Pferdehirt sold 733,424 shares of TechnipFMC stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.24, for a total value of $45,648,309.76. Following the transaction, the chief executive officer owned 2,411,852 shares in the company, valued at $150,113,668.48. This trade represents a 23.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Alf Melin sold 83,721 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $61.83, for a total transaction of $5,176,469.43. Following the transaction, the chief financial officer directly owned 282,537 shares of the company’s stock, valued at approximately $17,469,262.71. This represents a 22.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,210,092 shares of company stock worth $75,322,232 in the last ninety days. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FTI. BMO Capital Markets lifted their price target on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. Susquehanna upped their target price on TechnipFMC from $56.00 to $71.00 and gave the stock a “positive” rating in a research report on Friday, February 20th. The Goldman Sachs Group raised their price objective on shares of TechnipFMC from $55.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Citigroup boosted their target price on shares of TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Piper Sandler raised their price target on shares of TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.47.

TechnipFMC Stock Up 0.8%

Shares of FTI stock opened at $63.01 on Monday. The stock’s 50 day simple moving average is $58.39 and its 200 day simple moving average is $47.48. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $68.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. The company has a market capitalization of $25.21 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 1.16 and a beta of 0.70.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. As a group, research analysts predict that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 17th. TechnipFMC’s dividend payout ratio is currently 8.66%.

TechnipFMC Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.