Envestnet Asset Management Inc. Has $21.66 Million Stock Position in TechnipFMC plc $FTI

Envestnet Asset Management Inc. lessened its holdings in TechnipFMC plc (NYSE:FTI) by 7.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 628,848 shares of the oil and gas company’s stock after selling 52,575 shares during the period. Envestnet Asset Management Inc. owned about 0.15% of TechnipFMC worth $21,658,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FTI. Diversified Trust Co increased its holdings in TechnipFMC by 0.8% during the 2nd quarter. Diversified Trust Co now owns 40,830 shares of the oil and gas company’s stock worth $1,406,000 after purchasing an additional 306 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 340 shares during the last quarter. Financial Network Wealth Advisors LLC grew its holdings in TechnipFMC by 29.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company’s stock worth $48,000 after buying an additional 346 shares in the last quarter. Diversify Advisory Services LLC raised its position in TechnipFMC by 5.1% in the 1st quarter. Diversify Advisory Services LLC now owns 7,506 shares of the oil and gas company’s stock valued at $238,000 after buying an additional 362 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in TechnipFMC by 27.0% during the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company’s stock valued at $91,000 after acquiring an additional 614 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling

In other news, CEO Douglas J. Pferdehirt sold 632,539 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $38.62, for a total value of $24,428,656.18. Following the completion of the transaction, the chief executive officer directly owned 2,917,054 shares of the company’s stock, valued at $112,656,625.48. This trade represents a 17.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thierry Conti sold 50,000 shares of TechnipFMC stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $38.64, for a total value of $1,932,000.00. Following the completion of the transaction, the insider owned 56,352 shares of the company’s stock, valued at approximately $2,177,441.28. This trade represents a 47.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 876,603 shares of company stock valued at $33,832,588. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FTI shares. Piper Sandler upped their target price on shares of TechnipFMC from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Evercore ISI increased their price objective on shares of TechnipFMC from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. BNP Paribas set a $47.00 target price on TechnipFMC and gave the stock an “outperform” rating in a research note on Friday, October 10th. BTIG Research downgraded TechnipFMC from a “buy” rating to a “neutral” rating in a research report on Monday, July 14th. Finally, Citigroup lifted their price target on TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $45.36.

TechnipFMC Stock Performance

NYSE:FTI opened at $41.85 on Wednesday. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $42.65. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. The business has a fifty day simple moving average of $38.77 and a two-hundred day simple moving average of $34.99. The company has a market capitalization of $16.93 billion, a P/E ratio of 18.68, a P/E/G ratio of 1.20 and a beta of 1.04.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.10. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. TechnipFMC has set its FY 2025 guidance at EPS. On average, analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC declared that its board has authorized a share buyback plan on Wednesday, October 22nd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the oil and gas company to buy up to 13.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, November 18th. TechnipFMC’s dividend payout ratio is presently 8.93%.

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.