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

Envestnet Asset Management Inc. increased its position in TechnipFMC plc (NYSE:FTI) by 123.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 714,533 shares of the oil and gas company’s stock after buying an additional 394,790 shares during the period. Envestnet Asset Management Inc. owned about 0.17% of TechnipFMC worth $20,679,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of TechnipFMC during the 4th quarter worth $239,000. Systematic Alpha Investments LLC acquired a new stake in TechnipFMC in the 4th quarter worth about $207,000. Foundry Partners LLC grew its holdings in TechnipFMC by 4.4% in the 4th quarter. Foundry Partners LLC now owns 13,601 shares of the oil and gas company’s stock valued at $394,000 after buying an additional 577 shares during the period. Westpac Banking Corp acquired a new position in shares of TechnipFMC during the 4th quarter valued at about $55,000. Finally, Kesler Norman & Wride LLC lifted its holdings in shares of TechnipFMC by 10.9% during the 4th quarter. Kesler Norman & Wride LLC now owns 23,023 shares of the oil and gas company’s stock worth $666,000 after acquiring an additional 2,263 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Up 1.2 %

Shares of NYSE:FTI opened at $25.34 on Tuesday. TechnipFMC plc has a 12-month low of $22.12 and a 12-month high of $33.45. 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 firm has a market cap of $10.66 billion, a PE ratio of 16.67 and a beta of 1.11. The company has a fifty day simple moving average of $28.43 and a 200 day simple moving average of $29.00.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.79%. TechnipFMC’s payout ratio is 10.42%.

Insider Buying and Selling

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the transaction, the director now directly owns 100,951 shares in the company, valued at $3,004,301.76. This trade represents a 8.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the sale, the executive vice president now owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. The trade was a 23.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,706 shares of company stock worth $1,651,665. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Susquehanna lowered their target price on shares of TechnipFMC from $41.00 to $35.00 and set a “positive” rating for the company in a report on Monday. Evercore ISI increased their target price on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. StockNews.com downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Barclays raised their price objective on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Finally, Piper Sandler boosted their target price on 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 assigned a strong buy rating to the company. According to MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and an average target price of $36.15.

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.