Navellier & Associates Inc. Acquires 12,517 Shares of TechnipFMC plc $FTI

Navellier & Associates Inc. lifted its holdings in shares of TechnipFMC plc (NYSE:FTI) by 13.2% during the second quarter, Holdings Channel.com reports. The firm owned 107,345 shares of the oil and gas company’s stock after acquiring an additional 12,517 shares during the quarter. Navellier & Associates Inc.’s holdings in TechnipFMC were worth $7,117,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FTI. V Square Quantitative Management LLC acquired a new stake in TechnipFMC in the first quarter valued at $26,000. Newbridge Financial Services Group Inc. bought a new position in TechnipFMC during the 3rd quarter worth $32,000. Geneos Wealth Management Inc. lifted its holdings 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 buying an additional 340 shares during the period. Ascentis Independent Advisors bought a new stake in shares of TechnipFMC in the 1st quarter valued at about $37,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of TechnipFMC in the second quarter valued at about $37,000. Institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling at TechnipFMC

In related news, Director Eric D. Mullins bought 6,365 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the transaction, the director directly owned 8,070 shares of the company’s stock, valued at approximately $633,898.50. The trade was a 373.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

TechnipFMC Stock Down 0.7%

Shares of TechnipFMC stock opened at $75.81 on Friday. The stock’s 50-day moving average is $72.07 and its 200 day moving average is $69.86. TechnipFMC plc has a one year low of $35.29 and a one year high of $80.55. The firm has a market cap of $29.73 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.56 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the company posted $0.68 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts anticipate that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s payout ratio is currently 6.94%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FTI. Weiss Ratings downgraded TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday. UBS Group set a $80.00 target price on shares of TechnipFMC in a research report on Wednesday, June 3rd. Citigroup raised their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Barclays boosted their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Evercore reaffirmed an “outperform” rating and issued a $83.00 price objective on shares of TechnipFMC in a research note on Friday, May 1st. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $69.64.

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.