NewEdge Advisors LLC Purchases 21,657 Shares of TechnipFMC plc $FTI

NewEdge Advisors LLC lifted its position in TechnipFMC plc (NYSE:FTI) by 28.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,309 shares of the oil and gas company’s stock after buying an additional 21,657 shares during the period. NewEdge Advisors LLC’s holdings in TechnipFMC were worth $6,727,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new position in TechnipFMC in the first quarter valued at about $26,000. Ascentis Independent Advisors acquired a new stake in shares of TechnipFMC during the first quarter worth about $37,000. First Pacific Financial bought a new position in shares of TechnipFMC during the 1st quarter valued at about $52,000. Newbridge Financial Services Group Inc. bought a new position in shares of TechnipFMC during the 3rd quarter valued at about $32,000. Finally, Summit Securities Group LLC acquired a new position in shares of TechnipFMC in the 1st quarter valued at approximately $60,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Performance

FTI opened at $74.13 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average of $69.65 and a 200-day moving average of $67.88. TechnipFMC plc has a 12-month low of $34.27 and a 12-month high of $77.92. The stock has a market cap of $29.07 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 1.44 and a beta of 0.72.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the company earned $0.68 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities research analysts expect that TechnipFMC plc will post 3.05 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders 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 dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is currently 6.94%.

Analysts Set New Price Targets

FTI has been the subject of a number of research reports. Barclays increased their target price 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 reiterated a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Citigroup upped 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, UBS Group set a $80.00 price objective on shares of TechnipFMC in a research report on Wednesday, June 3rd. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $69.64.

About TechnipFMC

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.