US Bancorp DE Increases Stock Holdings in TechnipFMC plc (NYSE:FTI)

US Bancorp DE boosted its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 54.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,585 shares of the oil and gas company's stock after buying an additional 28,649 shares during the quarter. US Bancorp DE's holdings in TechnipFMC were worth $2,140,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FTI. Blue Trust Inc. raised its holdings in shares of TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company's stock valued at $29,000 after buying an additional 735 shares during the period. ORG Wealth Partners LLC purchased a new stake in TechnipFMC during the third quarter worth about $30,000. Whittier Trust Co. acquired a new stake in shares of TechnipFMC during the first quarter worth about $29,000. GAMMA Investing LLC boosted its stake in shares of TechnipFMC by 73.1% in the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 492 shares during the period. Finally, ORG Partners LLC acquired a new position in shares of TechnipFMC in the second quarter valued at approximately $33,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Up 1.1 %

FTI stock traded up $0.30 during trading on Thursday, hitting $28.56. 2,374,999 shares of the company's stock were exchanged, compared to its average volume of 4,040,731. The business has a 50-day moving average price of $26.14 and a two-hundred day moving average price of $26.23. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $12.15 billion, a price-to-earnings ratio of 18.80 and a beta of 1.51. TechnipFMC plc has a 52-week low of $18.33 and a 52-week high of $29.85.

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

TechnipFMC declared that its board has approved a share repurchase plan on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase 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 stock is undervalued.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders 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 dividend yield of 0.70%. The ex-dividend date is Tuesday, November 19th. TechnipFMC's dividend payout ratio (DPR) is currently 13.16%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Bank of America increased their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Monday, October 14th. TD Cowen lifted their target price on TechnipFMC from $35.00 to $37.00 and gave the company a "buy" rating in a report on Friday, October 25th. Susquehanna boosted their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a "positive" rating in a research note on Friday, October 25th. Hsbc Global Res raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. Finally, Citigroup boosted their price objective on TechnipFMC from $31.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $33.30.

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.