Bull Harbor Capital LLC Makes New Investment in TechnipFMC plc $FTI

Bull Harbor Capital LLC purchased a new stake in shares of TechnipFMC plc (NYSE:FTI) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 40,508 shares of the oil and gas company’s stock, valued at approximately $2,800,000. TechnipFMC comprises about 0.8% of Bull Harbor Capital LLC’s portfolio, making the stock its 17th biggest holding.

A number of other large investors have also recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new position in shares of TechnipFMC during the first quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. purchased a new stake in TechnipFMC in the third quarter worth approximately $32,000. Geneos Wealth Management Inc. grew its position 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 worth $35,000 after purchasing an additional 340 shares during the period. Ascentis Independent Advisors purchased a new stake in TechnipFMC during the 1st quarter valued at $37,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of TechnipFMC during the 4th quarter valued at $41,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $71.77 on Thursday. The stock’s fifty day moving average is $69.52 and its 200 day moving average is $66.82. TechnipFMC plc has a one year low of $34.27 and a one year high of $77.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The stock has a market cap of $28.61 billion, a P/E ratio of 27.39, a P/E/G ratio of 1.52 and a beta of 0.70.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The business 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 business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 earnings per share. Sell-side analysts anticipate that TechnipFMC plc will post 3.01 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s payout ratio is currently 7.63%.

Analyst Upgrades and Downgrades

FTI has been the topic of a number of research reports. Barclays raised their price target on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Citigroup raised their target price on TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Susquehanna cut their price target on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Finally, Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. One 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

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.