TechnipFMC (NYSE:FTI) Sets New 52-Week High - Here's What Happened

Shares of TechnipFMC plc (NYSE:FTI - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $35.52 and last traded at $35.34, with a volume of 530599 shares. The stock had previously closed at $34.68.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Royal Bank of Canada reiterated an "outperform" rating and set a $37.00 price objective on shares of TechnipFMC in a research note on Monday, April 28th. Barclays boosted their price objective on shares of TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Sanford C. Bernstein lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price objective on the stock. in a research note on Thursday, May 22nd. Finally, Piper Sandler increased their price target on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $36.46.

TechnipFMC Stock Up 1.8%

The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $29.46 and a two-hundred day simple moving average of $29.69. The company has a market cap of $14.80 billion, a PE ratio of 23.22 and a beta of 1.06.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the firm posted $0.22 earnings per share. The business's revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Tuesday, May 20th. TechnipFMC's dividend payout ratio is presently 10.53%.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.76, for a total value of $279,178.56. Following the completion of the transaction, the director now directly owns 100,951 shares of the company's stock, valued at $3,004,301.76. The trade was a 8.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of TechnipFMC

Large investors have recently modified their holdings of the stock. Avantax Advisory Services Inc. raised its position in TechnipFMC by 24.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company's stock valued at $634,000 after purchasing an additional 4,314 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of TechnipFMC during the 4th quarter worth $9,152,000. Charles Schwab Investment Management Inc. increased its holdings in TechnipFMC by 7.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company's stock valued at $105,618,000 after buying an additional 249,719 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in TechnipFMC by 1,024.4% during the 4th quarter. Jones Financial Companies Lllp now owns 14,347 shares of the oil and gas company's stock worth $415,000 after buying an additional 13,071 shares during the last quarter. Finally, Truist Financial Corp raised its position in shares of TechnipFMC by 414.2% during the 4th quarter. Truist Financial Corp now owns 38,308 shares of the oil and gas company's stock worth $1,109,000 after acquiring an additional 30,858 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.

TechnipFMC Company 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.

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