Portside Wealth Group LLC Grows Position in TechnipFMC plc (NYSE:FTI)

Portside Wealth Group LLC raised its holdings in shares of TechnipFMC plc (NYSE:FTI) by 5.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,346 shares of the oil and gas company’s stock after purchasing an additional 1,855 shares during the quarter. Portside Wealth Group LLC’s holdings in TechnipFMC were worth $1,215,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. lifted its holdings in TechnipFMC by 24.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company’s stock valued at $634,000 after purchasing an additional 4,314 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of TechnipFMC in the fourth quarter worth about $9,152,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of TechnipFMC by 7.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company’s stock worth $105,618,000 after buying an additional 249,719 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of TechnipFMC by 1,024.4% in the fourth quarter. Jones Financial Companies Lllp now owns 14,347 shares of the oil and gas company’s stock worth $415,000 after buying an additional 13,071 shares in the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of TechnipFMC by 414.2% in the fourth quarter. Truist Financial Corp now owns 38,308 shares of the oil and gas company’s stock worth $1,109,000 after buying an additional 30,858 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a report on Thursday, May 22nd. Susquehanna decreased their price objective on shares of TechnipFMC from $41.00 to $35.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. Piper Sandler upped their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Barclays upped their price objective on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.46.

Insider Buying and Selling

In other news, EVP Justin Rounce sold 42,178 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the sale, the executive vice president now directly owns 140,207 shares of the company’s stock, valued at $3,722,495.85. This represents a 23.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.76, for a total value of $279,178.56. Following the sale, the director now directly owns 100,951 shares in the company, valued at $3,004,301.76. This trade represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,706 shares of company stock valued at $1,651,665. Corporate insiders own 1.80% of the company’s stock.

TechnipFMC Trading Up 2.5%

TechnipFMC stock opened at $32.59 on Monday. The business has a 50-day simple moving average of $28.55 and a two-hundred day simple moving average of $29.57. The company has a market cap of $13.66 billion, a P/E ratio of 21.44 and a beta of 1.06. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 52-week low of $22.12 and a 52-week high of $33.45.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.26 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 earnings per share. Analysts predict that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.61%. TechnipFMC’s dividend payout ratio is presently 10.53%.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.