Pinnacle Wealth Management Advisory Group LLC Makes New Investment in TechnipFMC plc $FTI

Pinnacle Wealth Management Advisory Group LLC acquired a new position in shares of TechnipFMC plc (NYSE:FTI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,721 shares of the oil and gas company’s stock, valued at approximately $389,000.

Several other large investors have also recently bought and sold shares of the company. AE Wealth Management LLC boosted its position in shares of TechnipFMC by 38.0% in the 3rd quarter. AE Wealth Management LLC now owns 183,603 shares of the oil and gas company’s stock worth $7,243,000 after purchasing an additional 50,593 shares during the last quarter. Lingohr Asset Management GmbH boosted its position in shares of TechnipFMC by 461.7% in the 3rd quarter. Lingohr Asset Management GmbH now owns 212,295 shares of the oil and gas company’s stock worth $8,375,000 after purchasing an additional 174,500 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of TechnipFMC by 80.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock worth $125,144,000 after purchasing an additional 1,415,621 shares during the last quarter. Rothschild Investment LLC boosted its position in shares of TechnipFMC by 25,468.9% in the 3rd quarter. Rothschild Investment LLC now owns 11,506 shares of the oil and gas company’s stock worth $454,000 after purchasing an additional 11,461 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of TechnipFMC by 8.4% in the 3rd quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company’s stock worth $12,053,000 after purchasing an additional 23,600 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Piper Sandler raised their price target on TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Zacks Research lowered TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday. Weiss Ratings lowered TechnipFMC from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, April 21st. BMO Capital Markets raised their price target on TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, February 23rd. Finally, Barclays raised their price target on TechnipFMC from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.40.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $75.05 on Wednesday. The company has a market capitalization of $29.92 billion, a PE ratio of 28.65, a PEG ratio of 1.51 and a beta of 0.74. TechnipFMC plc has a 12 month low of $28.87 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 fifty day simple moving average is $69.31 and its 200 day simple moving average is $55.53.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 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 the consensus estimate of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 EPS. On average, research analysts predict that TechnipFMC plc will post 2.93 EPS for the current year.

TechnipFMC Dividend Announcement

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

Insider Buying and Selling at TechnipFMC

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the firm’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total transaction of $440,182.00. Following the sale, the director owned 59,887 shares of the company’s stock, valued at approximately $4,151,366.84. This trade represents a 9.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Luana Duffe sold 47,951 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $62.43, for a total value of $2,993,580.93. Following the transaction, the executive vice president owned 78,871 shares of the company’s stock, valued at approximately $4,923,916.53. This trade represents a 37.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,216,442 shares of company stock worth $75,762,414 in the last three months. 1.40% of the stock is owned by insiders.

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.