TechnipFMC plc $FTI Stock Position Raised by NewEdge Advisors LLC

NewEdge Advisors LLC raised its holdings in TechnipFMC plc (NYSE:FTI) by 28.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,309 shares of the oil and gas company’s stock after acquiring an additional 21,657 shares during the quarter. NewEdge Advisors LLC’s holdings in TechnipFMC were worth $6,727,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FTI. Caerus Investment Advisors LLC lifted its stake in shares of TechnipFMC by 1.1% in the first quarter. Caerus Investment Advisors LLC now owns 24,025 shares of the oil and gas company’s stock worth $1,661,000 after buying an additional 259 shares during the last quarter. Argent Capital Management LLC acquired a new position in TechnipFMC in the first quarter worth about $6,995,000. CTC Alternative Strategies Ltd. bought a new position in shares of TechnipFMC during the 1st quarter worth approximately $1,121,000. BankChampaign National Association bought a new position in shares of TechnipFMC during the first quarter valued at $1,157,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of TechnipFMC by 28.6% during the first quarter. Janus Henderson Group PLC now owns 924,838 shares of the oil and gas company’s stock valued at $63,957,000 after acquiring an additional 205,637 shares during the period. Institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FTI. UBS Group set a $80.00 target price on shares of TechnipFMC in a research report on Wednesday, June 3rd. Weiss Ratings lowered shares of TechnipFMC from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, July 31st. Evercore reaffirmed an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research note on Friday, May 1st. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Finally, Piper Sandler lifted their target price on shares of TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $69.64.

TechnipFMC Stock Performance

FTI stock opened at $74.13 on Tuesday. TechnipFMC plc has a twelve month low of $34.27 and a twelve month high of $77.92. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. The company has a market cap of $29.07 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 1.44 and a beta of 0.72. The business’s fifty day moving average is $69.65 and its 200-day moving average is $67.88.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts forecast that TechnipFMC plc will post 3.05 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be given 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 is Tuesday, August 18th. TechnipFMC’s payout ratio is presently 6.94%.

About TechnipFMC

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.