TechnipFMC plc (NYSE:FTI) Shares Bought by Fulton Bank N.A.

Fulton Bank N.A. grew its holdings in shares of TechnipFMC plc (NYSE:FTI) by 21.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 19,279 shares of the oil and gas company’s stock after acquiring an additional 3,432 shares during the quarter. Fulton Bank N.A.’s holdings in TechnipFMC were worth $504,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 492 shares during the period. Inceptionr LLC raised its position in shares of TechnipFMC by 2.2% during the fourth quarter. Inceptionr LLC now owns 24,612 shares of the oil and gas company’s stock worth $496,000 after purchasing an additional 540 shares during the period. Quarry LP raised its position in shares of TechnipFMC by 76.6% during the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 768 shares during the period. Janney Capital Management LLC raised its position in shares of TechnipFMC by 3.1% during the fourth quarter. Janney Capital Management LLC now owns 27,688 shares of the oil and gas company’s stock worth $558,000 after purchasing an additional 839 shares during the period. Finally, Whittier Trust Co. acquired a new stake in shares of TechnipFMC during the first quarter worth $29,000. Institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Susquehanna boosted their target price on TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Piper Sandler upped their price target on TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Sunday, April 28th. Bank of America upped their price target on TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, Barclays boosted their price objective on TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.38.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, CAO David Light sold 5,928 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $25.81, for a total value of $153,001.68. Following the transaction, the chief accounting officer now directly owns 11,534 shares in the company, valued at approximately $297,692.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.06% of the company’s stock.

TechnipFMC Price Performance

NYSE FTI traded down $0.40 during trading hours on Wednesday, reaching $25.30. 2,832,288 shares of the company’s stock were exchanged, compared to its average volume of 4,203,976. The stock has a market cap of $10.90 billion, a PE ratio of 54.66 and a beta of 1.52. TechnipFMC plc has a one year low of $17.73 and a one year high of $29.85. The firm has a fifty day moving average of $26.28 and a 200-day moving average of $24.59. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.23 billion. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. TechnipFMC’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 EPS. On average, equities research analysts predict that TechnipFMC plc will post 1.22 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th will be given a $0.05 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.79%. TechnipFMC’s payout ratio is 42.55%.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. 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.