Moran Wealth Management LLC Acquires New Position in TechnipFMC plc $FTI

Moran Wealth Management LLC bought a new position in shares of TechnipFMC plc (NYSE:FTI) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 210,508 shares of the oil and gas company’s stock, valued at approximately $14,552,000. Moran Wealth Management LLC owned 0.05% of TechnipFMC as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC acquired a new position in shares of TechnipFMC in the fourth quarter worth $32,000. First Pacific Financial acquired a new stake in shares of TechnipFMC in the first quarter valued at $52,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of TechnipFMC in the third quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in TechnipFMC in the fourth quarter valued at $41,000. Finally, Torren Management LLC purchased a new position in TechnipFMC in the fourth quarter valued at $45,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Trading Down 0.0%

FTI opened at $66.72 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. TechnipFMC plc has a one year low of $31.88 and a one year high of $77.78. The company has a market cap of $26.60 billion, a P/E ratio of 25.47, a PEG ratio of 1.43 and a beta of 0.70. The business’s 50-day simple moving average is $69.83 and its 200-day simple moving average is $63.29.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. As a group, equities research analysts expect that TechnipFMC plc will post 2.98 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th 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 was Tuesday, May 19th. TechnipFMC’s payout ratio is currently 7.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Royal Bank Of Canada upped their price target on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Piper Sandler lifted 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. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Citigroup boosted their price objective on TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Finally, Barclays upped their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.00.

TechnipFMC 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.