New Age Alpha Advisors LLC Invests $3.36 Million in TechnipFMC plc $FTI

Key Points

• New Age Alpha Advisors initiated a new position in TechnipFMC, buying 75,321 shares valued at about $3.36 million in the fourth quarter.
• Wall Street sentiment is upbeat, with multiple analysts raising price targets; TechnipFMC now carries a consensus Moderate Buy rating and an average target price of $69.
• The company recently beat earnings expectations, reporting $0.64 EPS versus $0.57 expected, while quarterly revenue rose 11.6% year over year and it announced a quarterly dividend of $0.05 per share.

New Age Alpha Advisors LLC bought a new position in TechnipFMC plc (NYSE:FTI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 75,321 shares of the oil and gas company's stock, valued at approximately $3,356,000.

A number of other hedge funds have also bought and sold shares of the business. Hantz Financial Services Inc. raised its position in TechnipFMC by 13.0% in the 4th quarter. Hantz Financial Services Inc. now owns 27,141 shares of the oil and gas company's stock worth $1,209,000 after buying an additional 3,122 shares during the last quarter. Todd Asset Management LLC raised its position in TechnipFMC by 52.2% in the 4th quarter. Todd Asset Management LLC now owns 825,835 shares of the oil and gas company's stock worth $36,800,000 after buying an additional 283,129 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in TechnipFMC in the 4th quarter worth about $909,000. EverSource Wealth Advisors LLC raised its position in TechnipFMC by 18.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 20,686 shares of the oil and gas company's stock worth $922,000 after buying an additional 3,280 shares during the last quarter. Finally, Cumberland Partners Ltd raised its position in TechnipFMC by 85.7% in the 4th quarter. Cumberland Partners Ltd now owns 65,000 shares of the oil and gas company's stock worth $2,896,000 after buying an additional 30,000 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FTI. The Goldman Sachs Group boosted their target price on TechnipFMC from $66.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, April 15th. Barclays boosted their target price on TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. HSBC lowered TechnipFMC from a "buy" rating to a "hold" rating and boosted their target price for the stock from $49.00 to $62.00 in a research report on Friday, February 20th. Susquehanna boosted their price target on TechnipFMC from $83.00 to $90.00 and gave the company a "positive" rating in a research note on Friday, May 1st. Finally, Piper Sandler boosted their price target on TechnipFMC from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $69.00.

TechnipFMC Trading Up 0.1%

TechnipFMC stock opened at $71.09 on Tuesday. The business has a 50-day simple moving average of $71.29 and a two-hundred day simple moving average of $58.75. The company has a market cap of $28.35 billion, a P/E ratio of 27.14, a P/E/G ratio of 1.53 and a beta of 0.74. TechnipFMC plc has a 52-week low of $28.89 and a 52-week high of $77.78. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 EPS. Analysts predict that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors 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 dividend yield of 0.3%. TechnipFMC's payout ratio is 7.63%.

Insider Activity at TechnipFMC

In related news, insider Jonathan Landes sold 116,194 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.20, for a total transaction of $7,227,266.80. Following the completion of the transaction, the insider directly owned 71,356 shares in the company, valued at approximately $4,438,343.20. The trade was a 61.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Luana Duffe sold 47,951 shares of the business's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $2,993,580.93. Following the transaction, the executive vice president owned 78,871 shares of the company's stock, valued at approximately $4,923,916.53. This trade represents a 37.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,216,442 shares of company stock worth $75,762,414 in the last quarter. 1.40% of the stock is currently owned by insiders.

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.

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