Bull Harbor Capital LLC Invests $2.80 Million in TechnipFMC plc $FTI

Key Points

• Bull Harbor Capital acquired 40,508 TechnipFMC shares worth approximately $2.8 million, making FTI about 0.8% of its portfolio. Institutional investors collectively own 96.58% of the company.
• Analysts remain broadly positive, with one Strong Buy, twelve Buy, and three Hold ratings; the consensus rating is “Moderate Buy” with an average price target of $69.64, while some firms set targets as high as $87.
• TechnipFMC exceeded quarterly EPS expectations, reporting $0.64 versus the $0.57 consensus, while revenue rose 11.6% year over year to $2.49 billion. The company also announced a quarterly dividend of $0.05 per share, representing a 0.3% yield.

Bull Harbor Capital LLC bought a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 40,508 shares of the oil and gas company's stock, valued at approximately $2,800,000. TechnipFMC makes up about 0.8% of Bull Harbor Capital LLC's investment portfolio, making the stock its 17th largest holding.

A number of other institutional investors also recently bought and sold shares of FTI. V Square Quantitative Management LLC purchased a new stake in TechnipFMC in the first quarter worth about $26,000. Newbridge Financial Services Group Inc. bought a new stake in shares of TechnipFMC during the third quarter valued at approximately $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 buying an additional 340 shares in the last quarter. Ascentis Independent Advisors purchased a new stake in shares of TechnipFMC in the 1st quarter worth about $37,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of TechnipFMC in the 4th quarter worth about $41,000. 96.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on FTI. UBS Group set a $80.00 price objective on shares of TechnipFMC in a research note on Wednesday, June 3rd. Piper Sandler lifted their target price on shares of TechnipFMC from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. Wall Street Zen raised TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Weiss Ratings upgraded TechnipFMC from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Tuesday, July 14th. Finally, Barclays raised their price objective on TechnipFMC from $70.00 to $87.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $69.64.

TechnipFMC Stock Down 0.9%

Shares of TechnipFMC stock opened at $71.77 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The stock has a market capitalization of $28.61 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 1.52 and a beta of 0.70. TechnipFMC plc has a 52-week low of $34.27 and a 52-week high of $77.92. The company has a 50-day simple moving average of $69.52 and a two-hundred day simple moving average of $66.82.

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 analysts' consensus estimates of $0.57 by $0.07. The firm had revenue of $2.49 billion for the quarter, compared to analysts' expectations of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 earnings per share. On average, analysts anticipate that TechnipFMC plc will post 3.01 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently announced 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. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC's dividend payout ratio (DPR) is currently 7.63%.

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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