Insight Wealth Strategies LLC Purchases Shares of 141,264 TechnipFMC plc (NYSE:FTI)

Insight Wealth Strategies LLC bought a new stake in TechnipFMC plc (NYSE:FTI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 141,264 shares of the oil and gas company’s stock, valued at approximately $4,088,000.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 735 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of TechnipFMC during the third quarter valued at approximately $30,000. GAMMA Investing LLC lifted its stake in TechnipFMC by 59.5% in the third quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 693 shares during the period. Toth Financial Advisory Corp boosted its holdings in TechnipFMC by 1,900.0% in the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock valued at $52,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in TechnipFMC during the 3rd quarter valued at $56,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

Shares of NYSE:FTI traded up $0.31 during midday trading on Monday, reaching $31.66. 2,959,286 shares of the company’s stock traded hands, compared to its average volume of 3,567,201. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC plc has a one year low of $18.33 and a one year high of $32.64. The company has a market cap of $13.47 billion, a price-to-earnings ratio of 20.83 and a beta of 1.54. The stock has a 50 day moving average of $29.31 and a 200 day moving average of $27.46.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. As a group, equities research analysts anticipate that TechnipFMC plc will post 1.61 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.63%. TechnipFMC’s dividend payout ratio is currently 13.16%.

TechnipFMC announced that its Board of Directors has initiated a share repurchase plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

FTI has been the topic of a number of research reports. Piper Sandler started coverage on shares of TechnipFMC in a research note on Thursday, December 19th. They set an “overweight” rating and a $39.00 target price on the stock. BMO Capital Markets upped their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, October 29th. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and boosted their price target for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Finally, Susquehanna raised their price objective on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $35.92.

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.