Precision Wealth Strategies LLC Invests $1.11 Million in TechnipFMC plc $FTI

Precision Wealth Strategies LLC acquired a new stake in TechnipFMC plc (NYSE:FTI) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,121 shares of the oil and gas company’s stock, valued at approximately $1,114,000.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp boosted its position in TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after acquiring an additional 4,938,498 shares during the last quarter. Norges Bank acquired a new position in TechnipFMC in the 4th quarter valued at $205,468,000. Invesco Ltd. lifted its stake in shares of TechnipFMC by 64.9% during the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after purchasing an additional 4,437,960 shares during the period. AQR Capital Management LLC lifted its stake in shares of TechnipFMC by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after purchasing an additional 3,549,839 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of TechnipFMC by 46.2% during the third quarter. Northern Trust Corp now owns 3,581,329 shares of the oil and gas company’s stock worth $141,283,000 after purchasing an additional 1,132,216 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FTI. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Barclays increased their target price on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Citigroup upped their price objective on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Finally, UBS Group set a $80.00 price objective on shares of TechnipFMC in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, TechnipFMC presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $72.09 on Friday. The business’s fifty day moving average price is $69.26 and its 200 day moving average price is $65.15. TechnipFMC plc has a twelve month low of $31.88 and a twelve month high of $77.78. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $28.74 billion, a P/E ratio of 27.52, a PEG ratio of 1.52 and a beta of 0.70.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 earnings per share. As a group, research analysts anticipate that TechnipFMC plc will post 3.01 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC’s dividend payout ratio is 7.63%.

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.