Gunderson Capital Management LLC Invests $5.60 Million in TechnipFMC plc $FTI

Gunderson Capital Management LLC bought a new stake in shares of TechnipFMC plc (NYSE:FTI) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 81,033 shares of the oil and gas company’s stock, valued at approximately $5,602,000. TechnipFMC accounts for about 2.3% of Gunderson Capital Management LLC’s investment portfolio, making the stock its 20th biggest position.

Other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its stake in TechnipFMC by 549.9% during the first quarter. Janney Montgomery Scott LLC now owns 29,614 shares of the oil and gas company’s stock worth $2,047,000 after buying an additional 25,057 shares during the period. Pictet Asset Management Holding SA raised its stake in shares of TechnipFMC by 6.2% in the first quarter. Pictet Asset Management Holding SA now owns 65,070 shares of the oil and gas company’s stock valued at $4,498,000 after acquiring an additional 3,776 shares during the period. Fruth Investment Management purchased a new stake in shares of TechnipFMC in the first quarter valued at $215,000. Riverstone Advisors LLC bought a new stake in shares of TechnipFMC in the 1st quarter worth about $299,000. Finally, Laurel Oak Wealth Management LLC purchased a new position in shares of TechnipFMC during the 1st quarter worth about $208,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Trading Down 3.9%

Shares of FTI opened at $64.44 on Friday. The firm has a market capitalization of $25.69 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 1.38 and a beta of 0.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. TechnipFMC plc has a 1-year low of $31.88 and a 1-year high of $77.78. The company has a 50-day moving average of $70.39 and a 200 day moving average of $62.59.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 EPS. On average, research analysts expect that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio is 7.63%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Evercore restated an “outperform” rating and set a $83.00 target price on shares of TechnipFMC in a research report on Friday, May 1st. Barclays increased their price target on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Susquehanna raised their price target on TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a research note on Friday, May 1st. Finally, Weiss Ratings cut TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, TechnipFMC currently has a consensus rating of “Moderate Buy” and an average target price of $70.00.

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.