Hennessy Advisors Inc. Sells 48,840 Shares of TechnipFMC plc (NYSE:FTI)

Hennessy Advisors Inc. lowered its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 12.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 355,900 shares of the oil and gas company's stock after selling 48,840 shares during the period. Hennessy Advisors Inc. owned approximately 0.08% of TechnipFMC worth $11,278,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of TechnipFMC in the fourth quarter worth $46,000. Smartleaf Asset Management LLC increased its stake in shares of TechnipFMC by 55.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after buying an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of TechnipFMC in the fourth quarter worth $45,000. EverSource Wealth Advisors LLC boosted its holdings in TechnipFMC by 393.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock worth $49,000 after purchasing an additional 1,338 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in TechnipFMC by 48.2% in the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock worth $50,000 after purchasing an additional 563 shares during the period. Hedge funds and other institutional investors own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FTI. Barclays raised their price target 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. Susquehanna lowered their price objective 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. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Piper Sandler raised their price objective on TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Finally, Sanford C. Bernstein downgraded TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price objective on the stock. in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.46.

TechnipFMC Stock Up 2.0%

NYSE FTI traded up $0.68 on Tuesday, hitting $35.36. 3,228,834 shares of the company were exchanged, compared to its average volume of 4,438,539. The company has a market cap of $14.82 billion, a PE ratio of 23.26 and a beta of 1.06. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $35.52. The stock has a fifty day moving average of $29.46 and a 200-day moving average of $29.69. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter last year, the business posted $0.22 EPS. The business's quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.57%. TechnipFMC's payout ratio is 10.53%.

Insider Transactions at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.76, for a total value of $279,178.56. Following the completion of the transaction, the director now directly owns 100,951 shares in the company, valued at approximately $3,004,301.76. The trade was a 8.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.80% of the company's stock.

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.