Van ECK Associates Corp Sells 2,246,521 Shares of TechnipFMC plc (NYSE:FTI)

Van ECK Associates Corp reduced its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 24.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,811,668 shares of the oil and gas company's stock after selling 2,246,521 shares during the quarter. Van ECK Associates Corp owned 1.56% of TechnipFMC worth $137,187,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FTI. Ballentine Partners LLC acquired a new position in TechnipFMC in the third quarter worth about $203,000. Xponance Inc. increased its holdings in shares of TechnipFMC by 128.1% in the 3rd quarter. Xponance Inc. now owns 34,638 shares of the oil and gas company's stock valued at $705,000 after acquiring an additional 19,451 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of TechnipFMC by 14.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 12,994 shares of the oil and gas company's stock valued at $264,000 after acquiring an additional 1,674 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in TechnipFMC by 17.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,829 shares of the oil and gas company's stock worth $1,820,000 after purchasing an additional 13,265 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in TechnipFMC by 50.0% in the third quarter. Mackenzie Financial Corp now owns 836,307 shares of the oil and gas company's stock worth $16,659,000 after purchasing an additional 278,637 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Price Performance

Shares of FTI traded down $0.98 during midday trading on Tuesday, reaching $25.62. The stock had a trading volume of 4,243,370 shares, compared to its average volume of 4,706,282. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 0.87. The company has a market capitalization of $11.20 billion, a P/E ratio of 54.51 and a beta of 1.65. The firm's 50 day moving average price is $24.35 and its 200-day moving average price is $21.61. TechnipFMC plc has a 52 week low of $12.64 and a 52 week high of $27.26.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. TechnipFMC had a net margin of 2.61% and a return on equity of 9.60%. The firm had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $1.96 billion. TechnipFMC's revenue for the quarter was up 18.9% on a year-over-year basis. On average, analysts forecast that TechnipFMC plc will post 1.15 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.78%. The ex-dividend date is Monday, May 20th. TechnipFMC's dividend payout ratio is presently 42.55%.

Insider Activity at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the sale, the director now directly owns 103,982 shares of the company's stock, valued at approximately $2,204,418.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.93% of the company's stock.

Wall Street Analyst Weigh In

FTI has been the topic of a number of recent research reports. HSBC downgraded shares of TechnipFMC from a "buy" rating to a "hold" rating and set a $23.60 price target on the stock. in a research report on Friday, February 23rd. Barclays lifted their target price on TechnipFMC from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Monday. Susquehanna raised their price target on TechnipFMC from $27.00 to $34.00 and gave the stock a "positive" rating in a report on Friday. StockNews.com raised TechnipFMC from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Bank of America boosted their price target on shares of TechnipFMC from $24.00 to $28.50 and gave the company a "buy" rating in a report on Monday, April 15th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $26.14.

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.