Wealth Enhancement Advisory Services LLC Raises Stock Position in TechnipFMC plc $FTI

Wealth Enhancement Advisory Services LLC grew its holdings in TechnipFMC plc (NYSE:FTI) by 35.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 119,170 shares of the oil and gas company’s stock after acquiring an additional 31,069 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in TechnipFMC were worth $4,159,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of TechnipFMC by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 1,462,924 shares of the oil and gas company’s stock valued at $46,360,000 after acquiring an additional 8,823 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in TechnipFMC during the 1st quarter worth $205,000. Credit Agricole S A grew its holdings in TechnipFMC by 170.3% during the 1st quarter. Credit Agricole S A now owns 94,097 shares of the oil and gas company’s stock worth $2,982,000 after acquiring an additional 59,281 shares in the last quarter. Stephens Investment Management Group LLC grew its holdings in TechnipFMC by 0.8% during the 1st quarter. Stephens Investment Management Group LLC now owns 3,439,595 shares of the oil and gas company’s stock worth $109,001,000 after acquiring an additional 27,884 shares in the last quarter. Finally, OMNI 360 Wealth Inc. acquired a new position in shares of TechnipFMC in the 2nd quarter valued at about $226,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Activity

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $37.12, for a total transaction of $348,222.72. Following the transaction, the director directly owned 62,978 shares of the company’s stock, valued at approximately $2,337,743.36. The trade was a 12.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thierry Conti sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $38.64, for a total transaction of $1,932,000.00. Following the transaction, the insider directly owned 56,352 shares in the company, valued at $2,177,441.28. The trade was a 47.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 885,984 shares of company stock valued at $34,180,811. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FTI has been the subject of several research reports. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Barclays boosted their target price on shares of TechnipFMC from $45.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. BTIG Research lowered shares of TechnipFMC from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. Evercore ISI boosted their target price on shares of TechnipFMC from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Finally, Susquehanna boosted their target price on shares of TechnipFMC from $40.00 to $45.00 and gave the company a “positive” rating in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.92.

TechnipFMC Stock Up 1.1%

FTI stock opened at $39.96 on Friday. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $41.29. The company has a market capitalization of $16.42 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 1.27 and a beta of 1.10. The firm’s 50-day moving average is $36.89 and its two-hundred day moving average is $32.68. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.11. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the firm earned $0.43 EPS. TechnipFMC’s revenue was up 9.0% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. On average, analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, August 19th. TechnipFMC’s dividend payout ratio (DPR) is 9.43%.

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.