Sowell Financial Services LLC Buys New Shares in TechnipFMC plc $FTI

Sowell Financial Services LLC bought a new stake in shares of TechnipFMC plc (NYSE:FTI) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 51,621 shares of the oil and gas company’s stock, valued at approximately $2,300,000.

Other large investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised 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 acquiring an additional 340 shares in the last quarter. True Wealth Design LLC raised its holdings in TechnipFMC by 8.6% in the 4th quarter. True Wealth Design LLC now owns 4,495 shares of the oil and gas company’s stock valued at $200,000 after acquiring an additional 357 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in TechnipFMC by 1.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 24,019 shares of the oil and gas company’s stock valued at $948,000 after acquiring an additional 365 shares in the last quarter. Gries Financial LLC raised its holdings in TechnipFMC by 6.2% in the 3rd quarter. Gries Financial LLC now owns 6,745 shares of the oil and gas company’s stock valued at $266,000 after acquiring an additional 391 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in TechnipFMC by 2.9% in the 3rd quarter. SG Americas Securities LLC now owns 14,508 shares of the oil and gas company’s stock valued at $572,000 after acquiring an additional 408 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on FTI. Citigroup upped their price target on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Wall Street Zen cut TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday. HSBC cut shares of TechnipFMC from a “buy” rating to a “hold” rating and increased their price objective for the company from $49.00 to $62.00 in a research note on Friday, February 20th. TD Cowen restated a “buy” rating on shares of TechnipFMC in a research note on Friday, February 20th. Finally, Susquehanna increased their price objective on shares of TechnipFMC from $82.00 to $83.00 and gave the company a “positive” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.27.

TechnipFMC Trading Up 2.2%

Shares of FTI opened at $73.19 on Wednesday. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $73.29. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $64.20 and a 200-day simple moving average of $51.06. The stock has a market cap of $29.39 billion, a PE ratio of 31.68, a PEG ratio of 1.31 and a beta of 0.71.

TechnipFMC (NYSE:FTI) last issued its earnings results on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the prior year, the firm posted $0.54 EPS. TechnipFMC’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts predict that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is 8.66%.

Insider Buying and Selling at TechnipFMC

In related news, EVP Luana Duffe sold 47,951 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.43, for a total transaction of $2,993,580.93. Following the completion of the sale, the executive vice president owned 78,871 shares in the company, valued at $4,923,916.53. This trade represents a 37.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alf Melin sold 43,554 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $63.13, for a total transaction of $2,749,564.02. Following the sale, the chief financial officer owned 238,983 shares of the company’s stock, valued at $15,086,996.79. This trade represents a 15.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,216,442 shares of company stock worth $75,762,414 over the last ninety days. Company insiders own 1.80% 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.