Insight Wealth Strategies LLC Invests $4.09 Million in TechnipFMC plc (NYSE:FTI)

Insight Wealth Strategies LLC bought a new stake in TechnipFMC plc (NYSE:FTI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 141,264 shares of the oil and gas company's stock, valued at approximately $4,088,000.

A number of other large investors have also recently modified their holdings of the business. Hardman Johnston Global Advisors LLC boosted its stake in TechnipFMC by 13.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company's stock valued at $236,482,000 after buying an additional 1,071,103 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of TechnipFMC by 2.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company's stock valued at $228,384,000 after purchasing an additional 204,435 shares during the last quarter. State Street Corp increased its position in TechnipFMC by 1.7% during the 3rd quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company's stock worth $215,100,000 after purchasing an additional 133,775 shares in the last quarter. Pacer Advisors Inc. bought a new position in TechnipFMC in the 3rd quarter valued at approximately $185,643,000. Finally, Franklin Resources Inc. boosted its position in TechnipFMC by 23.0% in the third 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 in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Trading Up 1.0 %

TechnipFMC stock traded up $0.30 during trading hours on Monday, reaching $31.65. 4,257,470 shares of the company's stock were exchanged, compared to its average volume of 4,017,657. The firm's 50 day simple moving average is $29.31 and its 200 day simple moving average is $27.46. TechnipFMC plc has a twelve month low of $18.33 and a twelve month high of $32.64. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $13.46 billion, a PE ratio of 20.82 and a beta of 1.54.

TechnipFMC (NYSE:FTI - Get Free Report) last released its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.39 by $0.25. The business had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm's revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 earnings per share. Research analysts predict that TechnipFMC plc will post 1.61 earnings per share for the current year.

TechnipFMC Announces Dividend

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

TechnipFMC declared that its board has initiated a share buyback program on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have recently commented on FTI shares. Citigroup increased 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. HSBC raised TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price target on the stock in a research note on Tuesday, October 29th. Barclays upped their price objective on TechnipFMC from $37.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Hsbc Global Res upgraded shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. Finally, Bank of America upped their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price 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.