Envestnet Asset Management Inc. Acquires 394,790 Shares of TechnipFMC plc (NYSE:FTI)

Envestnet Asset Management Inc. increased its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 123.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 714,533 shares of the oil and gas company's stock after purchasing an additional 394,790 shares during the period. Envestnet Asset Management Inc. owned approximately 0.17% of TechnipFMC worth $20,679,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Baker Tilly Wealth Management LLC increased its position in TechnipFMC by 4.1% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company's stock valued at $248,000 after purchasing an additional 338 shares during the period. Yousif Capital Management LLC increased its position in shares of TechnipFMC by 4.6% during the fourth quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company's stock worth $236,000 after buying an additional 357 shares during the period. Sigma Planning Corp raised its stake in TechnipFMC by 3.3% during the fourth quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company's stock worth $334,000 after buying an additional 363 shares during the last quarter. GAMMA Investing LLC lifted its holdings in TechnipFMC by 22.3% in the fourth quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company's stock valued at $66,000 after buying an additional 414 shares during the period. Finally, Ballentine Partners LLC boosted its position in TechnipFMC by 3.8% during the fourth quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company's stock valued at $337,000 after acquiring an additional 423 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

Insiders Place Their Bets

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total value of $1,119,825.90. Following the completion of the sale, the executive vice president now directly owns 140,207 shares of the company's stock, valued at $3,722,495.85. This trade represents a 23.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the business'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 sale, the director now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 61,706 shares of company stock valued at $1,651,665. Corporate insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FTI shares. StockNews.com downgraded TechnipFMC from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Barclays raised their price objective on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. Evercore ISI boosted their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a research report on Wednesday, January 15th. Susquehanna reduced their price target on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a report on Monday, April 14th. Finally, Piper Sandler upped their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $36.15.

TechnipFMC Stock Up 2.2 %

Shares of NYSE:FTI traded up $0.55 during mid-day trading on Friday, hitting $25.54. 3,377,478 shares of the company traded hands, compared to its average volume of 3,950,830. The stock has a market cap of $10.74 billion, a P/E ratio of 16.80 and a beta of 1.11. The stock has a 50-day moving average price of $27.95 and a two-hundred day moving average price of $28.93. 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.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Tuesday, March 18th. TechnipFMC's payout ratio is currently 10.42%.

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.