Brown Miller Wealth Management LLC Invests $358,000 in TechnipFMC plc $FTI

Brown Miller Wealth Management LLC acquired a new position in TechnipFMC plc (NYSE:FTI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,044 shares of the oil and gas company’s stock, valued at approximately $358,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of TechnipFMC by 5,475.0% in the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 657 shares during the period. Harbor Investment Advisory LLC acquired a new stake in shares of TechnipFMC in the fourth quarter worth $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of TechnipFMC in the third quarter worth $32,000. Geneos Wealth Management Inc. increased its stake in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 340 shares during the period. Finally, Huntington National Bank increased its stake in shares of TechnipFMC by 317.8% in the third quarter. Huntington National Bank now owns 1,195 shares of the oil and gas company’s stock worth $47,000 after acquiring an additional 909 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insiders Place Their Bets

In other news, CAO David Light sold 6,622 shares of TechnipFMC stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $413,411.46. Following the sale, the chief accounting officer owned 5,005 shares in the company, valued at $312,462.15. This trade represents a 56.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Luana Duffe sold 47,951 shares of TechnipFMC stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.43, for a total transaction of $2,993,580.93. Following the completion of the sale, the executive vice president owned 78,871 shares in the company, valued at approximately $4,923,916.53. This trade represents a 37.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,216,442 shares of company stock valued at $75,762,414. 1.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FTI has been the topic of a number of research reports. Wall Street Zen lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. BMO Capital Markets increased their price objective on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research note on Monday, February 23rd. Citigroup raised their price target on shares of TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Weiss Ratings restated a “buy (b)” rating on shares of TechnipFMC in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.27.

TechnipFMC Stock Up 0.2%

FTI stock opened at $73.90 on Monday. The firm has a market cap of $29.68 billion, a PE ratio of 31.99, a P/E/G ratio of 1.36 and a beta of 0.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. The firm’s fifty day moving average is $65.26 and its 200 day moving average is $51.78. TechnipFMC plc has a one year low of $23.53 and a one year high of $74.25.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Saturday, February 14th. The oil and gas company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.51 by $0.19. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter last year, the business earned $0.54 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. On average, research analysts forecast that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 17th were given a $0.05 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is 8.66%.

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.