Envestnet Asset Management Inc. Cuts Stake in TechnipFMC plc (NYSE:FTI)

Envestnet Asset Management Inc. reduced its position in TechnipFMC plc (NYSE:FTI - Free Report) by 4.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 about 0.16% of TechnipFMC worth $21,594,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its position in TechnipFMC by 106.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,031 shares of the oil and gas company's stock worth $59,000 after purchasing an additional 1,047 shares during the period. Raymond James Financial Inc. bought a new stake in shares of TechnipFMC during the 4th quarter valued at $9,152,000. HighTower Advisors LLC grew its position in shares of TechnipFMC by 39.1% during the 4th quarter. HighTower Advisors LLC now owns 33,090 shares of the oil and gas company's stock valued at $958,000 after acquiring an additional 9,296 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of TechnipFMC by 393.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock valued at $49,000 after acquiring an additional 1,338 shares during the period. Finally, Avantax Advisory Services Inc. grew its position in shares of TechnipFMC by 24.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company's stock valued at $634,000 after acquiring an additional 4,314 shares during the period. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FTI has been the topic of a number of analyst reports. Royal Bank Of Canada restated an "outperform" rating and set a $37.00 target price on shares of TechnipFMC in a research note on Monday, April 28th. Susquehanna lifted their target price on shares of TechnipFMC from $35.00 to $40.00 and gave the company a "positive" rating in a research note on Tuesday, July 1st. Sanford C. Bernstein cut shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a research note on Thursday, May 22nd. Barclays boosted their price target on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, BTIG Research cut shares of TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Four 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.31.

TechnipFMC Price Performance

Shares of NYSE FTI traded up $0.08 during trading on Friday, hitting $32.75. The company had a trading volume of 6,363,105 shares, compared to its average volume of 4,141,463. The stock has a fifty day simple moving average of $33.04 and a two-hundred day simple moving average of $30.45. TechnipFMC plc has a fifty-two week low of $22.12 and a fifty-two week high of $35.86. The firm has a market capitalization of $13.73 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 1.10 and a beta of 1.07. The company has a quick ratio of 0.84, a current ratio of 1.07 and a debt-to-equity ratio of 0.17.

TechnipFMC (NYSE:FTI - Get Free Report) last announced 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). The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.26 billion. TechnipFMC had a net margin of 8.93% and a return on equity of 27.01%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 EPS. On average, research analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

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

TechnipFMC 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.