Gunderson Capital Management LLC Makes New $5.60 Million Investment in TechnipFMC plc $FTI

Gunderson Capital Management LLC acquired a new stake in TechnipFMC plc (NYSE:FTI) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 81,033 shares of the oil and gas company’s stock, valued at approximately $5,602,000. TechnipFMC makes up 2.3% of Gunderson Capital Management LLC’s portfolio, making the stock its 20th largest position.

A number of other hedge funds have also recently made changes to their positions in FTI. Harbor Investment Advisory LLC bought a new stake in TechnipFMC during the 4th quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. bought a new position in TechnipFMC in the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. grew its holdings in TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 340 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in TechnipFMC during the 4th quarter valued at approximately $41,000. Finally, Torren Management LLC bought a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $45,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Down 3.9%

FTI stock opened at $64.44 on Friday. The firm has a fifty day moving average price of $70.39 and a 200 day moving average price of $62.59. TechnipFMC plc has a fifty-two week low of $31.88 and a fifty-two week high of $77.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The firm has a market cap of $25.69 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 1.38 and a beta of 0.69.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the business posted $0.33 earnings per share. TechnipFMC’s quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were 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 was Tuesday, May 19th. TechnipFMC’s dividend payout ratio is currently 7.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FTI shares. Citigroup boosted their target price on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Piper Sandler boosted their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Finally, UBS Group set a $80.00 price objective on TechnipFMC in a research report on Wednesday, June 3rd. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.00.

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.