TechnipFMC plc (NYSE:FTI) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 4.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 681,423 shares of the oil and gas company's stock after selling 33,110 shares during the period. Envestnet Asset Management Inc. owned 0.16% of TechnipFMC worth $21,594,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in FTI. T. Rowe Price Investment Management Inc. lifted its holdings in shares of TechnipFMC by 0.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company's stock worth $1,220,288,000 after acquiring an additional 365,527 shares during the last quarter. Vanguard Group Inc. raised its position in TechnipFMC by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company's stock valued at $1,180,576,000 after purchasing an additional 1,623,864 shares during the period. Ameriprise Financial Inc. lifted its stake in TechnipFMC by 31.5% during the fourth quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock worth $478,620,000 after purchasing an additional 3,962,315 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of TechnipFMC by 15.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 9,749,465 shares of the oil and gas company's stock worth $282,150,000 after buying an additional 1,319,015 shares during the period. Finally, Anomaly Capital Management LP boosted its position in shares of TechnipFMC by 46.5% during the fourth quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company's stock worth $210,295,000 after buying an additional 2,306,342 shares during the period. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FTI shares. Barclays increased their target price on TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Wall Street Zen cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Sanford C. Bernstein cut shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price objective for the company. in a report on Thursday, May 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $37.00 target price on shares of TechnipFMC in a research note on Monday, April 28th. Finally, Citigroup reissued a "buy" rating and issued a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $37.31.

TechnipFMC Stock Up 0.2%

FTI stock traded up $0.08 during trading on Friday, hitting $32.75. 6,363,105 shares of the company's stock were exchanged, compared to its average volume of 4,139,236. The business has a 50-day moving average price of $32.98 and a two-hundred day moving average price of $30.42. The company has a current ratio of 1.07, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $13.73 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.11 and a beta of 1.07. TechnipFMC plc has a 52-week low of $22.12 and a 52-week high of $35.86.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). TechnipFMC had a net margin of 8.93% and a return on equity of 27.01%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the company posted $0.22 EPS. The company's quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Tuesday, May 20th. TechnipFMC's payout ratio is currently 10.53%.

About TechnipFMC

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.