Precision Wealth Strategies LLC Buys Shares of 16,121 TechnipFMC plc $FTI

Key Points

• Precision Wealth Strategies LLC opened a new position in TechnipFMC during the first quarter, buying 16,121 shares worth about $1.114 million.
• Institutional ownership in TechnipFMC remains very high at 96.58%, with several major investors recently increasing their stakes, including State Street, Invesco, and AQR Capital Management.
• Analyst sentiment is generally positive: TechnipFMC has a Moderate Buy consensus rating and a consensus price target of $69.64, while the stock recently traded around $72.09 after posting better-than-expected quarterly EPS of $0.64.

Precision Wealth Strategies LLC purchased a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 16,121 shares of the oil and gas company's stock, valued at approximately $1,114,000.

A number of other large investors have also made changes to their positions in FTI. State Street Corp boosted its holdings in TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company's stock worth $508,276,000 after buying an additional 4,938,498 shares in the last quarter. Norges Bank acquired a new position in TechnipFMC during the fourth quarter worth about $205,468,000. Invesco Ltd. increased its holdings in TechnipFMC by 64.9% in the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company's stock valued at $502,284,000 after buying an additional 4,437,960 shares in the last quarter. AQR Capital Management LLC increased its holdings in TechnipFMC by 26.7% in the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company's stock valued at $751,567,000 after buying an additional 3,549,839 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of TechnipFMC by 46.2% during the 3rd quarter. Northern Trust Corp now owns 3,581,329 shares of the oil and gas company's stock valued at $141,283,000 after acquiring an additional 1,132,216 shares during the period. Hedge funds and other institutional investors own 96.58% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FTI shares. Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Susquehanna reduced 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. The Goldman Sachs Group reiterated a "buy" rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Barclays upped their target price on TechnipFMC from $70.00 to $87.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Finally, Weiss Ratings upgraded TechnipFMC from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, TechnipFMC presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.64.

TechnipFMC Stock Up 0.1%

FTI stock opened at $72.09 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. The company's 50 day simple moving average is $69.26 and its 200-day simple moving average is $65.15. TechnipFMC plc has a 12 month low of $31.88 and a 12 month high of $77.78. The firm has a market capitalization of $28.74 billion, a PE ratio of 27.52, a P/E/G ratio of 1.52 and a beta of 0.70.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $2.52 billion. During the same period in the previous year, the firm posted $0.33 EPS. The company's quarterly revenue was up 11.6% compared to the same quarter last year. Equities analysts expect that TechnipFMC plc will post 3.01 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, May 19th. TechnipFMC's dividend payout ratio 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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