Praxis Investment Management Inc. Invests $493,000 in TechnipFMC plc $FTI

Praxis Investment Management Inc. acquired a new position in shares of TechnipFMC plc (NYSE:FTI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,055 shares of the oil and gas company’s stock, valued at approximately $493,000.

Several other hedge funds and other institutional investors also recently modified their holdings of FTI. Focus Partners Wealth boosted its stake in TechnipFMC by 27.2% in the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock worth $764,000 after buying an additional 5,161 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake 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 buying an additional 340 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in TechnipFMC by 76.1% in the second quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock worth $508,000 after buying an additional 6,381 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in TechnipFMC by 132.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock worth $188,000 after buying an additional 3,105 shares in the last quarter. Finally, Ossiam boosted its stake in TechnipFMC by 52.0% in the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock worth $55,000 after buying an additional 546 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

NYSE:FTI opened at $70.98 on Friday. The firm has a market cap of $28.30 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 1.50 and a beta of 0.74. TechnipFMC plc has a fifty-two week low of $28.87 and a fifty-two week high of $77.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The business has a 50 day moving average price of $69.62 and a 200-day moving average price of $56.04.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Equities research analysts predict that TechnipFMC plc will post 2.93 earnings per share for the current year.

TechnipFMC Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on FTI. Susquehanna upped their target price on TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a research note on Friday, May 1st. Citigroup upped their target price on TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Zacks Research lowered TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday. Royal Bank Of Canada upped their target price on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Finally, Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $65.40.

Insider Activity at TechnipFMC

In related news, CFO Alf Melin sold 83,721 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $61.83, for a total transaction of $5,176,469.43. Following the completion of the transaction, the chief financial officer owned 282,537 shares in the company, valued at $17,469,262.71. This represents a 22.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Luana Duffe sold 47,951 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were 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 represents a 37.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,216,442 shares of company stock valued at $75,762,414 over the last 90 days. Company insiders own 1.40% of the company’s stock.

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.