Hennessy Advisors Inc. Has $11.28 Million Stock Holdings in TechnipFMC plc (NYSE:FTI)

Hennessy Advisors Inc. lessened its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 12.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 355,900 shares of the oil and gas company's stock after selling 48,840 shares during the quarter. Hennessy Advisors Inc. owned about 0.08% of TechnipFMC worth $11,278,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of TechnipFMC in the 4th quarter valued at $46,000. Smartleaf Asset Management LLC boosted its holdings in shares of TechnipFMC by 55.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock valued at $43,000 after buying an additional 525 shares during the period. Compagnie Lombard Odier SCmA acquired a new position in shares of TechnipFMC in the 4th quarter valued at about $45,000. EverSource Wealth Advisors LLC boosted its stake in 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 purchasing an additional 1,338 shares during the period. Finally, V Square Quantitative Management LLC boosted its stake in TechnipFMC by 48.2% during the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock valued at $50,000 after purchasing an additional 563 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Price Performance

NYSE:FTI traded down $0.15 during mid-day trading on Friday, hitting $34.53. The company's stock had a trading volume of 4,329,388 shares, compared to its average volume of 4,054,098. TechnipFMC plc has a fifty-two week low of $22.12 and a fifty-two week high of $35.27. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $14.48 billion, a price-to-earnings ratio of 22.72 and a beta of 1.06. The stock has a fifty day moving average of $29.23 and a 200-day moving average of $29.67.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly 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 return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the company earned $0.22 EPS. The business's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Tuesday, May 20th. TechnipFMC's payout ratio is 10.53%.

Insider Transactions at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.76, for a total transaction of $279,178.56. Following the sale, the director now directly owns 100,951 shares of the company's stock, valued at $3,004,301.76. This represents a 8.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on FTI. Susquehanna dropped their price target on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Sanford C. Bernstein lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a report on Thursday, May 22nd. Barclays upped their price objective on shares of TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, Piper Sandler upped their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, TechnipFMC presently has an average rating of "Moderate Buy" and an average price target of $36.46.

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.