AE Wealth Management LLC Acquires 13,407 Shares of TechnipFMC plc (NYSE:FTI)

Posted by Defense World Staff on Sep 21st, 2023

AE Wealth Management LLC increased its holdings in TechnipFMC plc (NYSE:FTI – Free Report) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 265,589 shares of the oil and gas company’s stock after purchasing an additional 13,407 shares during the period. AE Wealth Management LLC owned approximately 0.06% of TechnipFMC worth $4,414,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Inceptionr LLC bought a new stake in TechnipFMC in the first quarter worth $822,000. SG Americas Securities LLC increased its position in TechnipFMC by 143.7% in the first quarter. SG Americas Securities LLC now owns 29,033 shares of the oil and gas company’s stock worth $396,000 after purchasing an additional 17,119 shares during the last quarter. Macquarie Group Ltd. bought a new stake in TechnipFMC in the first quarter worth $2,760,000. Acadian Asset Management LLC bought a new position in TechnipFMC during the first quarter valued at $431,000. Finally, Counterpoint Mutual Funds LLC bought a new position in TechnipFMC during the first quarter valued at $113,000. Institutional investors own 98.79% of the company’s stock.

Wall Street Analysts Forecast Growth

FTI has been the topic of a number of analyst reports. StockNews.com initiated coverage on shares of TechnipFMC in a research report on Thursday, August 17th. They set a “hold” rating on the stock. BTIG Research boosted their price objective on shares of TechnipFMC from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday. Kepler Capital Markets cut shares of TechnipFMC from a “buy” rating to a “hold” rating and boosted their price objective for the company from $19.00 to $19.50 in a research report on Tuesday, August 1st. HSBC boosted their price objective on shares of TechnipFMC from $13.80 to $23.20 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Finally, Capital One Financial reiterated an “overweight” rating and set a $22.00 price objective on shares of TechnipFMC in a research report on Friday, July 14th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus price target of $21.02.

Read Our Latest Stock Analysis on TechnipFMC

TechnipFMC Stock Down 0.1 %

NYSE:FTI opened at $20.39 on Thursday. TechnipFMC plc has a 1-year low of $8.02 and a 1-year high of $21.67. The company has a 50-day moving average of $18.86 and a 200 day moving average of $15.85. The firm has a market cap of $8.93 billion, a PE ratio of -67.95 and a beta of 1.82. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.18 and a quick ratio of 0.92.

TechnipFMC (NYSE:FTI – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). TechnipFMC had a positive return on equity of 1.15% and a negative net margin of 1.89%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the company earned $0.02 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. As a group, research analysts anticipate that TechnipFMC plc will post 0.44 EPS for the current fiscal year.

TechnipFMC announced that its board has authorized a share buyback program on Wednesday, July 26th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the oil and gas company to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

TechnipFMC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Tuesday, August 22nd were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Monday, August 21st. TechnipFMC’s dividend payout ratio (DPR) is presently -66.67%.

TechnipFMC Profile

(Free Report)

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. 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.