TechnipFMC (NYSE:FTI) Sets New 52-Week High – Time to Buy?

TechnipFMC plc (NYSE:FTI)’s share price reached a new 52-week high on Monday . The company traded as high as $72.00 and last traded at $70.2050, with a volume of 5719 shares traded. The stock had previously closed at $71.19.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a report on Friday, February 20th. Barclays reaffirmed an “overweight” rating and set a $69.00 price target on shares of TechnipFMC in a report on Friday, February 20th. Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a research note on Thursday, January 22nd. UBS Group set a $70.00 price objective on shares of TechnipFMC in a research report on Friday, February 20th. Finally, The Goldman Sachs Group raised their target price on shares of TechnipFMC from $55.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.20.

TechnipFMC Trading Up 2.1%

The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $62.52 and a 200-day moving average price of $49.93. The firm has a market capitalization of $27.72 billion, a PE ratio of 29.89, a P/E/G ratio of 1.25 and a beta of 0.70.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the business earned $0.54 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th will be given 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 is Tuesday, March 17th. TechnipFMC’s payout ratio is presently 8.66%.

Insider Buying and Selling at TechnipFMC

In other news, CFO Alf Melin sold 83,721 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $61.83, for a total value of $5,176,469.43. Following the completion of the transaction, the chief financial officer owned 282,537 shares in the company, valued at $17,469,262.71. This trade represents a 22.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Justin Rounce sold 172,276 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.10, for a total transaction of $10,698,339.60. Following the completion of the sale, the executive vice president owned 119,667 shares of the company’s stock, valued at $7,431,320.70. This trade represents a 59.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,216,442 shares of company stock worth $75,762,414. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

A number of hedge funds and other institutional investors have recently modified their holdings of FTI. AQR Capital Management LLC grew its holdings in shares of TechnipFMC by 26.7% in the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after acquiring an additional 3,549,839 shares during the period. State Street Corp raised its holdings in TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after purchasing an additional 4,938,498 shares during the last quarter. Invesco Ltd. raised its holdings in TechnipFMC by 64.9% during the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after purchasing an additional 4,437,960 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in TechnipFMC by 2.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,374,192 shares of the oil and gas company’s stock worth $409,262,000 after purchasing an additional 232,491 shares in the last quarter. Finally, Boston Partners boosted its position in TechnipFMC by 2.0% during the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock worth $389,018,000 after purchasing an additional 192,549 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

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.