Moran Wealth Management LLC Acquires Shares of 210,508 TechnipFMC plc $FTI

Moran Wealth Management LLC acquired a new position in shares of TechnipFMC plc (NYSE:FTI) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 210,508 shares of the oil and gas company’s stock, valued at approximately $14,552,000.

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

TechnipFMC Stock Down 0.0%

FTI opened at $66.72 on Friday. The business has a 50 day moving average price of $69.83 and a two-hundred day moving average price of $63.29. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The company has a market cap of $26.60 billion, a PE ratio of 25.47, a P/E/G ratio of 1.43 and a beta of 0.70. TechnipFMC plc has a 52 week low of $31.88 and a 52 week high of $77.78.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the firm earned $0.33 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, research analysts anticipate that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is currently 7.63%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FTI shares. Piper Sandler boosted their price objective on TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. UBS Group set a $80.00 target price on shares of TechnipFMC in a research report on Wednesday, June 3rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Susquehanna upped their price target on shares of TechnipFMC from $83.00 to $90.00 and gave the company a “positive” rating in a research report on Friday, May 1st. Finally, Weiss Ratings cut shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, June 23rd. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and an average 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.