New Age Alpha Advisors LLC Acquires New Position in TechnipFMC plc $FTI

New Age Alpha Advisors LLC acquired a new stake in shares of TechnipFMC plc (NYSE:FTI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 75,321 shares of the oil and gas company’s stock, valued at approximately $3,356,000.

A number of other hedge funds also recently made changes to their positions in the stock. Independent Advisor Alliance boosted its stake in TechnipFMC by 0.3% in the 4th quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock worth $2,730,000 after purchasing an additional 184 shares during the period. Personal CFO Solutions LLC boosted its stake in TechnipFMC by 3.0% in the 4th quarter. Personal CFO Solutions LLC now owns 7,759 shares of the oil and gas company’s stock worth $346,000 after purchasing an additional 225 shares during the period. Geneos Wealth Management Inc. boosted its stake in TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares during the period. True Wealth Design LLC boosted its stake in TechnipFMC by 8.6% in the 4th quarter. True Wealth Design LLC now owns 4,495 shares of the oil and gas company’s stock worth $200,000 after purchasing an additional 357 shares during the period. Finally, Hantz Financial Services Inc. boosted its stake in TechnipFMC by 1.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 24,019 shares of the oil and gas company’s stock worth $948,000 after purchasing an additional 365 shares during the period. 96.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling at TechnipFMC

In other news, EVP Luana Duffe sold 47,951 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.43, for a total transaction of $2,993,580.93. Following the sale, the executive vice president directly owned 78,871 shares of the company’s stock, valued at $4,923,916.53. This represents a 37.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan Landes sold 116,194 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.20, for a total value of $7,227,266.80. Following the sale, the insider directly owned 71,356 shares in the company, valued at $4,438,343.20. This trade represents a 61.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,216,442 shares of company stock worth $75,762,414. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FTI. Royal Bank Of Canada upped their price target on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Piper Sandler upped their price target on TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. UBS Group set a $70.00 price target on TechnipFMC in a research note on Friday, February 20th. Finally, The Goldman Sachs Group upped their price target on TechnipFMC from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $69.00.

TechnipFMC Stock Up 0.1%

Shares of FTI opened at $71.09 on Tuesday. The stock has a market capitalization of $28.35 billion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. TechnipFMC plc has a 1 year low of $28.89 and a 1 year high of $77.78. The business’s 50 day simple moving average is $71.29 and its 200-day simple moving average is $58.75. 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 (NYSE:FTI) last issued its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. As a group, equities analysts expect that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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

About TechnipFMC

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.