Envestnet Asset Management Inc. Sells 33,110 Shares of TechnipFMC plc (NYSE:FTI)

Envestnet Asset Management Inc. lessened its position in TechnipFMC plc (NYSE:FTI) by 4.6% during 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 0.16% of TechnipFMC worth $21,594,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its holdings in TechnipFMC by 31.5% in the fourth quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company’s stock worth $478,620,000 after buying an additional 3,962,315 shares during the last quarter. Norges Bank bought a new stake in shares of TechnipFMC in the fourth quarter worth approximately $96,808,000. Anomaly Capital Management LP grew its stake in shares of TechnipFMC by 46.5% in the fourth quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company’s stock worth $210,295,000 after acquiring an additional 2,306,342 shares during the period. AQR Capital Management LLC grew its position in TechnipFMC by 70.6% during the fourth quarter. AQR Capital Management LLC now owns 4,132,758 shares of the oil and gas company’s stock valued at $119,602,000 after buying an additional 1,710,183 shares during the period. Finally, Vanguard Group Inc. grew its position in TechnipFMC by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company’s stock valued at $1,180,576,000 after buying an additional 1,623,864 shares during the period. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

NYSE FTI opened at $32.95 on Thursday. The company has a market cap of $13.82 billion, a P/E ratio of 17.34, a P/E/G ratio of 1.15 and a beta of 1.07. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 0.84. The stock has a 50-day moving average of $32.92 and a two-hundred day moving average of $30.39. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $35.86.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.26 billion. TechnipFMC had a return on equity of 27.01% and a net margin of 8.93%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 earnings per share. As a group, analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

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

Analyst Ratings Changes

A number of research firms have weighed in on FTI. BTIG Research lowered shares of TechnipFMC from a “buy” rating to a “neutral” rating in a research report on Monday. Barclays boosted their target price on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $37.00 price target on shares of TechnipFMC in a research note on Monday, April 28th. Susquehanna boosted their price objective on shares of TechnipFMC from $35.00 to $40.00 and gave the company a “positive” rating in a research report on Tuesday, July 1st. Finally, Citigroup reiterated a “buy” rating and set a $41.00 price objective (up previously from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and an average target price of $37.31.

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.