Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New $708,000 Investment in TechnipFMC plc $FTI

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of TechnipFMC plc (NYSE:FTI) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,246 shares of the oil and gas company’s stock, valued at approximately $708,000.

Several other institutional investors have also recently made changes to their positions in FTI. Harbor Investment Advisory LLC purchased a new position in shares of TechnipFMC in the 4th quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. purchased a new stake in TechnipFMC in the third quarter worth $32,000. Geneos Wealth Management Inc. raised its holdings in TechnipFMC by 45.3% in the first 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in TechnipFMC in the fourth quarter worth $41,000. Finally, Torren Management LLC purchased a new position in TechnipFMC during the fourth quarter valued at $45,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

FTI stock opened at $66.72 on Friday. The stock has a market capitalization of $26.60 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.70. TechnipFMC plc has a 12-month low of $31.88 and a 12-month high of $77.78. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The stock’s 50 day simple moving average is $69.83 and its 200 day simple moving average is $63.29.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the company earned $0.33 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, research analysts forecast that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date was Tuesday, May 19th. TechnipFMC’s dividend payout ratio (DPR) is presently 7.63%.

Analysts Set New Price Targets

A number of brokerages have recently commented on FTI. The Goldman Sachs Group restated a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. UBS Group set a $80.00 price target on shares of TechnipFMC in a research note on Wednesday, June 3rd. Royal Bank Of Canada lifted their price target on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Weiss Ratings cut shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, June 23rd. Finally, Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.00.

TechnipFMC Company Profile

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.