Abacus Wealth Partners LLC Buys Shares of 16,392 TechnipFMC plc $FTI

Key Points

• Abacus Wealth Partners LLC initiated a new position in TechnipFMC, buying 16,392 shares worth about $730,000 in the fourth quarter.
• TechnipFMC reported better-than-expected quarterly earnings of $0.64 per share, topping estimates, while revenue rose 11.6% year over year to $2.49 billion.
• The company announced a quarterly dividend of $0.05 per share, and analysts currently view the stock as a Moderate Buy with an average price target of $66.53.

Abacus Wealth Partners LLC bought a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 16,392 shares of the oil and gas company's stock, valued at approximately $730,000.

Other large investors also recently added to or reduced their stakes in the company. Independent Advisor Alliance boosted its position in TechnipFMC by 0.3% during the 4th quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company's stock worth $2,730,000 after acquiring an additional 184 shares during the period. Personal CFO Solutions LLC increased its stake in TechnipFMC by 3.0% in the 4th quarter. Personal CFO Solutions LLC now owns 7,759 shares of the oil and gas company's stock valued at $346,000 after buying an additional 225 shares during the period. Geneos Wealth Management Inc. increased its stake in TechnipFMC by 45.3% in 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 buying an additional 340 shares during the period. True Wealth Design LLC increased its stake in TechnipFMC by 8.6% in the 4th quarter. True Wealth Design LLC now owns 4,495 shares of the oil and gas company's stock valued at $200,000 after buying an additional 357 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in TechnipFMC by 1.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 24,019 shares of the oil and gas company's stock valued at $948,000 after buying an additional 365 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Stock Down 0.1%

FTI stock opened at $71.21 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 1 year low of $28.87 and a 1 year high of $77.78. The company has a fifty day simple moving average of $70.27 and a 200 day simple moving average of $57.45. The firm has a market cap of $28.39 billion, a PE ratio of 27.18, a PEG ratio of 1.44 and a beta of 0.74.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The firm had revenue of $2.49 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the prior year, the firm posted $0.33 EPS. The company's revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that TechnipFMC plc will post 2.95 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC's payout ratio is currently 7.63%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FTI shares. Piper Sandler upped their price objective on shares of TechnipFMC from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. HSBC cut TechnipFMC from a "buy" rating to a "hold" rating and lifted their price objective for the company from $49.00 to $62.00 in a research report on Friday, February 20th. Zacks Research lowered TechnipFMC from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. BMO Capital Markets raised their price target on TechnipFMC from $52.00 to $67.00 and gave the stock a "market perform" rating in a research note on Monday, February 23rd. Finally, Weiss Ratings upgraded TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, TechnipFMC has an average rating of "Moderate Buy" and an average target price of $66.53.

Insider Activity

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total value of $440,182.00. Following the completion of the transaction, the director owned 59,887 shares of the company's stock, valued at $4,151,366.84. This represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Luana Duffe sold 47,951 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $62.43, for a total transaction of $2,993,580.93. Following the completion of the transaction, the executive vice president directly owned 78,871 shares of the company's stock, valued at $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 three months, insiders have sold 1,216,442 shares of company stock valued at $75,762,414. 1.40% of the stock is owned by insiders.

TechnipFMC 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.

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