Hardy Reed LLC Purchases New Shares in TechnipFMC plc $FTI

Hardy Reed LLC acquired a new stake in TechnipFMC plc (NYSE:FTI) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 19,831 shares of the oil and gas company’s stock, valued at approximately $1,315,000.

Several other large investors have also recently added to or reduced their stakes in FTI. ANB Bank raised its holdings in TechnipFMC by 3.4% in the 1st quarter. ANB Bank now owns 4,903 shares of the oil and gas company’s stock worth $339,000 after purchasing an additional 161 shares in the last quarter. PFG Investments LLC boosted its stake in shares of TechnipFMC by 2.4% during the 1st quarter. PFG Investments LLC now owns 7,160 shares of the oil and gas company’s stock valued at $495,000 after purchasing an additional 165 shares in the last quarter. Independent Advisor Alliance increased its position in shares of TechnipFMC by 0.3% during the fourth quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock valued at $2,730,000 after buying an additional 184 shares during the period. Evolve Private Wealth LLC raised its stake in TechnipFMC by 0.7% in the first quarter. Evolve Private Wealth LLC now owns 34,879 shares of the oil and gas company’s stock worth $2,411,000 after buying an additional 227 shares in the last quarter. Finally, Caerus Investment Advisors LLC raised its stake in TechnipFMC by 1.1% in the first quarter. Caerus Investment Advisors LLC now owns 24,025 shares of the oil and gas company’s stock worth $1,661,000 after buying an additional 259 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

FTI has been the topic of several research reports. Wall Street Zen cut TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings lowered TechnipFMC from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, July 31st. Royal Bank Of Canada raised their target price on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Evercore reaffirmed an “outperform” rating and issued a $83.00 price target on shares of TechnipFMC in a research note on Friday, May 1st. Finally, Susquehanna decreased their price objective on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

TechnipFMC Price Performance

Shares of FTI opened at $78.63 on Friday. TechnipFMC plc has a fifty-two week low of $34.27 and a fifty-two week high of $79.23. The firm’s 50-day simple moving average is $70.30 and its two-hundred day simple moving average is $68.41. The stock has a market cap of $30.84 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.58 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (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 during the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the business earned $0.68 earnings per share. The business’s revenue was up 9.0% on a year-over-year basis. Analysts anticipate that TechnipFMC plc will post 3.06 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s payout ratio is presently 6.94%.

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.