TechnipFMC (NYSE:FTI) Hits New 52-Week High – Here’s Why

TechnipFMC plc (NYSE:FTI)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $72.00 and last traded at $70.2050, with a volume of 5719 shares changing hands. The stock had previously closed at $71.19.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a report on Friday, February 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of TechnipFMC in a report on Thursday, January 22nd. Citigroup boosted their price target on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 26th. The Goldman Sachs Group upped their price target on TechnipFMC from $55.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Finally, BMO Capital Markets lifted their price objective on TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.20.

TechnipFMC Trading Down 0.8%

The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $28.35 billion, a PE ratio of 30.57, a PEG ratio of 1.31 and a beta of 0.70. The stock’s fifty day simple moving average is $61.88 and its 200 day simple moving average is $49.53.

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

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is currently 8.66%.

Insiders Place Their Bets

In other news, CFO Alf Melin sold 83,721 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $61.83, for a total value of $5,176,469.43. Following the completion of the transaction, the chief financial officer owned 282,537 shares of the company’s stock, valued at $17,469,262.71. This represents a 22.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jonathan Landes sold 116,194 shares of TechnipFMC stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.20, for a total value of $7,227,266.80. Following the sale, the insider directly owned 71,356 shares in the company, valued at $4,438,343.20. This trade represents a 61.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,216,442 shares of company stock valued at $75,762,414. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its position in shares of TechnipFMC by 5,475.0% during 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 last quarter. Harbor Investment Advisory LLC purchased a new stake in TechnipFMC in the 4th quarter worth $32,000. Newbridge Financial Services Group Inc. purchased a new stake in TechnipFMC in the 3rd quarter worth $32,000. Geneos Wealth Management Inc. boosted its holdings in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 340 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of TechnipFMC during the fourth quarter valued at about $41,000. Institutional investors own 96.58% of the company’s stock.

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.