Perigon Wealth Management LLC Makes New Investment in TechnipFMC plc $FTI

Perigon Wealth Management LLC purchased a new position in TechnipFMC plc (NYSE:FTI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 14,650 shares of the oil and gas company’s stock, valued at approximately $971,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in TechnipFMC during the 1st quarter valued at approximately $26,000. Ascentis Independent Advisors bought a new position in TechnipFMC in the 1st quarter worth approximately $37,000. First Pacific Financial bought a new position in TechnipFMC in the 1st quarter worth approximately $52,000. Newbridge Financial Services Group Inc. purchased a new stake in TechnipFMC during the 3rd quarter valued at approximately $32,000. Finally, Summit Securities Group LLC purchased a new stake in TechnipFMC during the 1st quarter valued at approximately $60,000. 96.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. 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 report on Friday, May 1st. Evercore reissued an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a report on Friday, May 1st. Barclays raised their price objective on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and an average price target of $69.64.

TechnipFMC Trading Down 1.8%

Shares of FTI opened at $78.39 on Wednesday. The firm has a market capitalization of $30.74 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 1.62 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. TechnipFMC plc has a 1-year low of $34.27 and a 1-year high of $80.42. The company has a 50-day moving average of $70.72 and a 200 day moving average of $68.84.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.TechnipFMC’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS. On average, research analysts expect that TechnipFMC plc will post 3.08 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC’s dividend payout ratio (DPR) is currently 6.94%.

Insider Buying and Selling at TechnipFMC

In other news, Director Eric D. Mullins bought 6,365 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average price of $78.55 per share, with a total value of $499,970.75. Following the completion of the transaction, the director directly owned 8,070 shares of the company’s stock, valued at approximately $633,898.50. The trade was a 373.31% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.40% of the company’s stock.

TechnipFMC 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.