Evolve Private Wealth LLC Invests $2.22 Million in TechnipFMC plc $FTI

Evolve Private Wealth LLC purchased a new stake in shares of TechnipFMC plc (NYSE:FTI) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 33,433 shares of the oil and gas company’s stock, valued at approximately $2,217,000.

Other hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in TechnipFMC during the first quarter worth about $26,000. Newbridge Financial Services Group Inc. acquired a new position in TechnipFMC in the 3rd quarter valued at about $32,000. Geneos Wealth Management Inc. boosted its holdings in TechnipFMC by 45.3% in 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 purchasing an additional 340 shares during the last quarter. Ascentis Independent Advisors purchased a new stake in shares of TechnipFMC in the 1st quarter valued at approximately $37,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of TechnipFMC in the 2nd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling at TechnipFMC

In other news, Director Eric D. Mullins bought 6,365 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the acquisition, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. The trade was a 373.31% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

FTI has been the topic of several analyst reports. Susquehanna reduced their price target on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Royal Bank Of Canada increased their price objective on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Barclays raised their target price on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Finally, Citigroup upped their price target on TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and an average target price of $69.64.

TechnipFMC Price Performance

Shares of FTI opened at $77.62 on Friday. The firm has a 50-day simple moving average of $71.14 and a two-hundred day simple moving average of $69.21. The stock has a market cap of $30.44 billion, a PE ratio of 26.95, a P/E/G ratio of 1.58 and a beta of 0.72. TechnipFMC plc has a 1-year low of $35.29 and a 1-year high of $80.55. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85.

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

TechnipFMC Announces Dividend

The company also recently declared 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 dividend payout ratio (DPR) is currently 6.94%.

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.