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 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 141,264 shares of the oil and gas company’s stock, valued at approximately $4,088,000.

Several other institutional investors also recently modified their holdings of FTI. GAMMA Investing LLC lifted its position in shares of TechnipFMC by 22.3% in the fourth quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock valued at $66,000 after buying an additional 414 shares during the last quarter. Franklin Resources Inc. grew its stake in TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after buying an additional 679,748 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in TechnipFMC by 264.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,783 shares of the oil and gas company’s stock valued at $755,000 after acquiring an additional 20,877 shares during the period. Morse Asset Management Inc boosted its holdings in shares of TechnipFMC by 1.9% during the third quarter. Morse Asset Management Inc now owns 67,575 shares of the oil and gas company’s stock worth $1,772,000 after acquiring an additional 1,245 shares during the period. Finally, TCW Group Inc. acquired a new position in shares of TechnipFMC in the third quarter valued at approximately $6,049,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

NYSE:FTI traded up $0.31 during trading hours on Monday, reaching $31.66. The stock had a trading volume of 2,959,286 shares, compared to its average volume of 3,567,201. The stock has a 50 day simple moving average of $29.31 and a 200 day simple moving average of $27.46. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $32.64. The stock has a market cap of $13.47 billion, a P/E ratio of 20.83 and a beta of 1.54. 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 (NYSE:FTI) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 EPS. On average, research analysts forecast that TechnipFMC plc will post 1.61 EPS for the current fiscal year.

TechnipFMC announced that its board has initiated a stock buyback 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 buy up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

TechnipFMC Announces Dividend

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

Analysts Set New Price Targets

FTI has been the subject of a number of research reports. TD Cowen reissued a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a report on Wednesday, November 27th. BMO Capital Markets raised their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, October 10th. Citigroup boosted their price target on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and boosted their price objective for the company from $29.00 to $40.00 in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, TechnipFMC has a consensus rating of “Buy” and a consensus target price of $35.92.

About TechnipFMC

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.