OMNI 360 Wealth Inc. Purchases New Stake in TechnipFMC plc $FTI

Key Points

• OMNI 360 Wealth Inc. acquired a new stake in TechnipFMC plc, purchasing 6,571 shares valued at approximately $226,000 during the second quarter.
• TechnipFMC's latest quarterly earnings report showed an EPS of $0.68, exceeding analysts' estimates of $0.57, with revenue of $2.53 billion, up 9% from the previous year.
• Following recent insider activity, Director Rousset Sophie Zurquiyah sold 9,381 shares at an average price of $37.12, reducing her ownership by nearly 13%.

OMNI 360 Wealth Inc. bought a new position in TechnipFMC plc (NYSE:FTI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,571 shares of the oil and gas company's stock, valued at approximately $226,000.

Other hedge funds have also recently made changes to their positions in the company. New York State Teachers Retirement System purchased a new stake in shares of TechnipFMC during the first quarter valued at about $33,000. Geneos Wealth Management Inc. boosted its stake in 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 worth $35,000 after purchasing an additional 340 shares during the last quarter. Financial Network Wealth Advisors LLC raised its holdings in TechnipFMC by 29.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company's stock valued at $48,000 after buying an additional 346 shares during the period. Brooklyn Investment Group lifted its stake in TechnipFMC by 2,216.1% during the first quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company's stock worth $68,000 after purchasing an additional 2,061 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in TechnipFMC by 346.7% during the first quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock worth $92,000 after purchasing an additional 2,219 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of TechnipFMC stock in a transaction on Friday, July 25th. The shares were sold at an average price of $37.12, for a total transaction of $348,222.72. Following the completion of the sale, the director owned 62,978 shares of the company's stock, valued at approximately $2,337,743.36. The trade was a 12.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada boosted their price target on TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Citigroup restated a "buy" rating and issued a $41.00 price target (up from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Susquehanna lifted their price target on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Evercore ISI lifted their target price on TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Barclays upped their price target on TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $38.92.

TechnipFMC Price Performance

FTI stock traded down $0.08 during mid-day trading on Friday, reaching $39.16. 1,096,591 shares of the company's stock were exchanged, compared to its average volume of 4,722,546. The stock's 50 day moving average is $36.34 and its 200 day moving average is $32.23. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86. The company has a market cap of $16.09 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 1.26 and a beta of 1.10. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $41.29.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.11. The company had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.49 billion. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%.TechnipFMC's quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $0.43 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. On average, research analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, August 19th. TechnipFMC's payout ratio is currently 9.43%.

TechnipFMC Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.