TechnipFMC (NYSE:FTI) Hits New 12-Month High - Time to Buy?

Key Points

• TechnipFMC hit a new 52-week high of $76.04 in mid-day trading; the stock trades with a market cap of about $30.03 billion and a P/E of 32.34.
• Quarterly results beat on EPS — $0.70 vs. $0.51 expected — while revenue was slightly below estimates at $2.52 billion; the company shows a high ROE (31.14%).
• Notable insider selling and mixed analyst signals: the CEO and EVP sold large blocks (insiders sold ~1.22M shares worth $75.8M in the past 90 days), and analysts' consensus is a "Moderate Buy" with an average price target of $61.73, below the current share price.

TechnipFMC plc (NYSE:FTI - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $76.04 and last traded at $75.8850, with a volume of 2581 shares changing hands. The stock had previously closed at $74.76.

Analyst Ratings Changes

FTI has been the topic of a number of recent analyst reports. Barclays reaffirmed an "overweight" rating and issued a $69.00 target price on shares of TechnipFMC in a research report on Friday, February 20th. Wall Street Zen downgraded TechnipFMC from a "buy" rating to a "hold" rating in a report on Saturday, April 4th. Weiss Ratings downgraded TechnipFMC from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, April 21st. UBS Group set a $70.00 price target on TechnipFMC in a report on Friday, February 20th. Finally, Susquehanna boosted their price target on TechnipFMC from $82.00 to $83.00 and gave the company a "positive" rating in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $61.73.

TechnipFMC Stock Up 0.0%

The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. The stock has a 50-day simple moving average of $67.94 and a 200-day simple moving average of $54.13. The company has a market cap of $30.03 billion, a price-to-earnings ratio of 32.34, a price-to-earnings-growth ratio of 1.52 and a beta of 0.71.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The firm's quarterly revenue was up 6.3% on a year-over-year basis. As a group, analysts predict that TechnipFMC plc will post 2.92 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Tuesday, March 17th. TechnipFMC's payout ratio is 8.66%.

Insider Activity at TechnipFMC

In other TechnipFMC news, EVP Justin Rounce sold 172,276 shares of the business's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.10, for a total transaction of $10,698,339.60. Following the completion of the transaction, the executive vice president owned 119,667 shares in the company, valued at approximately $7,431,320.70. The trade was a 59.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Douglas J. Pferdehirt sold 733,424 shares of the company's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.24, for a total value of $45,648,309.76. Following the completion of the sale, the chief executive officer owned 2,411,852 shares of the company's stock, valued at approximately $150,113,668.48. This trade represents a 23.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,216,442 shares of company stock worth $75,762,414 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its position in shares of TechnipFMC by 5,475.0% in the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company's stock valued at $26,000 after purchasing an additional 657 shares during the period. Harbor Investment Advisory LLC acquired a new position in shares of TechnipFMC in the 4th quarter valued at $32,000. Newbridge Financial Services Group Inc. acquired a new position in shares of TechnipFMC in the 3rd quarter valued at $32,000. Geneos Wealth Management Inc. boosted its position in shares of 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 purchasing an additional 340 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of TechnipFMC in the 4th quarter valued at $41,000. Institutional investors own 96.58% of the company's stock.

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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