Wealth Enhancement Advisory Services LLC Acquires 6,947 Shares of TechnipFMC plc (NYSE:FTI)

Wealth Enhancement Advisory Services LLC lifted its holdings in TechnipFMC plc (NYSE:FTI) by 8.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,101 shares of the oil and gas company’s stock after buying an additional 6,947 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in TechnipFMC were worth $2,792,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FTI. Truist Financial Corp increased its holdings in shares of TechnipFMC by 414.2% in the 4th 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 during the last quarter. Atria Wealth Solutions Inc. bought a new position in TechnipFMC during the 4th quarter valued at about $466,000. Global Retirement Partners LLC grew its holdings in TechnipFMC by 175.1% during the 4th quarter. Global Retirement Partners LLC now owns 3,667 shares of the oil and gas company’s stock valued at $106,000 after purchasing an additional 2,334 shares during the last quarter. Sigma Planning Corp grew its holdings in TechnipFMC by 3.3% during the 4th quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company’s stock valued at $334,000 after purchasing an additional 363 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in TechnipFMC by 11.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,454,101 shares of the oil and gas company’s stock valued at $42,082,000 after purchasing an additional 152,161 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Down 1.1%

Shares of NYSE FTI opened at $34.57 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.07. The firm has a market capitalization of $14.49 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 1.20 and a beta of 1.06. The stock has a 50 day moving average price of $31.15 and a 200 day moving average price of $29.94. TechnipFMC plc has a 52-week low of $22.12 and a 52-week high of $35.71.

TechnipFMC (NYSE:FTI) last released 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). TechnipFMC had a net margin of 8.93% and a return on equity of 27.01%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the business posted $0.22 earnings per share. TechnipFMC’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.58%. TechnipFMC’s dividend payout ratio is presently 10.53%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FTI. 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. Royal Bank Of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of TechnipFMC in a report on Monday, April 28th. Susquehanna cut their price target on shares of TechnipFMC from $41.00 to $35.00 and set a “positive” rating on the stock in a report on Monday, April 14th. Barclays upped their price target on shares of TechnipFMC from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, Piper Sandler upped their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and a consensus price target of $36.46.

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.