US Bancorp DE Acquires 28,649 Shares of TechnipFMC plc (NYSE:FTI)

US Bancorp DE lifted its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 54.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,585 shares of the oil and gas company's stock after acquiring an additional 28,649 shares during the period. US Bancorp DE's holdings in TechnipFMC were worth $2,140,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Edgestream Partners L.P. bought a new position in TechnipFMC during the 1st quarter valued at $965,000. Atria Investments Inc bought a new stake in TechnipFMC in the first quarter worth about $1,684,000. Raymond James & Associates lifted its holdings in TechnipFMC by 12.0% in the 2nd quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company's stock valued at $8,875,000 after acquiring an additional 36,326 shares during the last quarter. 1832 Asset Management L.P. boosted its position in shares of TechnipFMC by 70.6% during the 1st quarter. 1832 Asset Management L.P. now owns 54,735 shares of the oil and gas company's stock valued at $1,374,000 after purchasing an additional 22,645 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of TechnipFMC in the 1st quarter worth approximately $1,421,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Performance

Shares of FTI stock traded up $0.36 during trading on Thursday, reaching $28.62. The company had a trading volume of 674,757 shares, compared to its average volume of 4,032,860. TechnipFMC plc has a one year low of $18.33 and a one year high of $29.85. The company has a market capitalization of $12.18 billion, a PE ratio of 18.59 and a beta of 1.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The firm's 50 day simple moving average is $26.14 and its two-hundred day simple moving average is $26.23.

TechnipFMC (NYSE:FTI - Get Free Report) last released its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.25. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business's revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 EPS. Sell-side analysts forecast that TechnipFMC plc will post 1.44 earnings per share for the current year.

TechnipFMC announced that its board has authorized a stock buyback plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its shares are undervalued.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Tuesday, November 19th. TechnipFMC's dividend payout ratio (DPR) is currently 13.16%.

Wall Street Analyst Weigh In

Several analysts recently commented on FTI shares. BMO Capital Markets increased their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company a "market perform" rating in a research note on Thursday, October 10th. Citigroup boosted their target price on TechnipFMC from $31.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, July 10th. Bank of America increased their price target on TechnipFMC from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Barclays raised their target price on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. Finally, HSBC upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price target for the company in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, TechnipFMC has an average rating of "Buy" and a consensus target price of $33.30.

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.