Elevation Point Wealth Partners LLC Buys Shares of 8,155 TechnipFMC plc $FTI

Elevation Point Wealth Partners LLC bought a new position in shares of TechnipFMC plc (NYSE:FTI) during the second quarter, HoldingsChannel reports. The fund bought 8,155 shares of the oil and gas company’s stock, valued at approximately $541,000.

Other large investors also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of TechnipFMC during the 1st quarter valued at $26,000. Newbridge Financial Services Group Inc. acquired a new position in TechnipFMC in the 3rd quarter worth about $32,000. Geneos Wealth Management Inc. raised its position in 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 valued at $35,000 after purchasing an additional 340 shares during the last quarter. Ascentis Independent Advisors bought a new position in TechnipFMC in the first quarter valued at about $37,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of TechnipFMC during the second quarter valued at about $37,000. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FTI shares. UBS Group set a $80.00 price target on TechnipFMC in a report on Wednesday, June 3rd. Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Royal Bank Of Canada boosted their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Evercore reaffirmed an “outperform” rating and set a $83.00 price target on shares of TechnipFMC in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.64.

TechnipFMC Trading Down 0.8%

Shares of FTI stock opened at $75.26 on Wednesday. The stock has a market cap of $29.52 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.55 and a beta of 0.72. The stock has a 50-day moving average of $71.45 and a 200-day moving average of $69.56. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. TechnipFMC plc has a 1-year low of $35.29 and a 1-year high of $80.55.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. On average, equities research analysts forecast that TechnipFMC plc will post 3.09 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is presently 6.94%.

Insider Activity

In other news, Director Eric D. Mullins purchased 6,365 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the transaction, the director owned 8,070 shares of the company’s stock, valued at approximately $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.40% of the company’s stock.

TechnipFMC Company 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.