TechnipFMC (NYSE:FTI) Stock Bumped Up to Strong-Buy by UBS Group

UBS Group upgraded shares of TechnipFMC (NYSE:FTI) to a strong-buy rating in a report published on Monday,Zacks reports.

Several other equities research analysts have also recently commented on the company. Zacks Research raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Wall Street Zen lowered TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings lowered TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, October 2nd. Citigroup upped their target price on TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Finally, Susquehanna cut their target price on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, TechnipFMC presently has an average rating of “Buy” and an average target price of $74.92.

TechnipFMC Stock Up 1.3%

FTI stock opened at $70.63 on Monday. The company has a market cap of $27.70 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 1.12 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. TechnipFMC has a 12 month low of $35.29 and a 12 month high of $80.70. The firm has a 50-day moving average of $73.91 and a two-hundred day moving average of $71.86.

TechnipFMC (NYSE:FTI) last released its earnings results 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. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. As a group, analysts forecast that TechnipFMC will post 3.20 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th 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 of this dividend was Tuesday, August 18th. TechnipFMC’s payout ratio is presently 6.94%.

Insider Buying and Selling

In other TechnipFMC news, insider Thierry Conti sold 6,000 shares of the firm’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $71.85, for a total transaction of $431,100.00. Following the completion of the sale, the insider owned 85,813 shares of the company’s stock, valued at $6,165,664.05. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Mullins bought 6,365 shares of TechnipFMC stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the transaction, the director directly owned 8,070 shares of the company’s stock, valued at approximately $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On TechnipFMC

Hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new stake in TechnipFMC in the first quarter valued at approximately $26,000. Coppell Advisory Solutions LLC purchased a new position in shares of TechnipFMC during the second quarter worth approximately $35,000. Ascentis Independent Advisors purchased a new position in shares of TechnipFMC during the first quarter worth approximately $37,000. Keating Financial Advisory Services Inc. purchased a new position in shares of TechnipFMC during the second quarter worth approximately $37,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of TechnipFMC in the 2nd quarter valued at $44,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Company Profile

TechnipFMC plc (NYSE: FTI) is an energy technology company that provides products, systems and services for the development and production of oil and natural gas resources. Its operations are organized primarily across Subsea and Surface Technologies, serving offshore and onshore energy projects throughout the world.

The company’s Subsea business designs and supplies integrated solutions for offshore field development, including subsea production systems, subsea controls, flexible pipe, umbilicals, installation services and lifecycle support.