Envestnet Portfolio Solutions Inc. Acquires 27,190 Shares of TechnipFMC plc (NYSE:FTI)

Envestnet Portfolio Solutions Inc. grew its holdings in shares of TechnipFMC plc (NYSE:FTI) by 336.7% in the 4th quarter, Holdings Channel reports. The fund owned 35,266 shares of the oil and gas company’s stock after buying an additional 27,190 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in TechnipFMC were worth $1,021,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. increased its position in TechnipFMC by 23.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after purchasing an additional 679,748 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of TechnipFMC by 24.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company’s stock valued at $634,000 after acquiring an additional 4,314 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in shares of TechnipFMC during the 4th quarter valued at $519,000. Westfield Capital Management Co. LP bought a new stake in TechnipFMC during the 3rd quarter worth $49,273,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in TechnipFMC by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company’s stock worth $105,618,000 after purchasing an additional 249,719 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Barclays lifted their price target on TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd. Piper Sandler upped their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. The Goldman Sachs Group began coverage on shares of TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective on the stock. TD Cowen reaffirmed a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a research report on Wednesday, November 27th. Finally, Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and upped their price target for the company from $29.00 to $40.00 in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, TechnipFMC currently has an average rating of “Buy” and a consensus target price of $36.31.

Insider Transactions at TechnipFMC

In other news, CAO David Light sold 10,147 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction of $252,660.30. Following the transaction, the chief accounting officer now directly owns 7,529 shares of the company’s stock, valued at $187,472.10. This represents a 57.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Justin Rounce sold 42,178 shares of TechnipFMC 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 completion of the sale, the executive vice president now directly 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. Insiders own 1.06% of the company’s stock.

TechnipFMC Stock Performance

NYSE:FTI opened at $29.31 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a twelve month low of $22.99 and a twelve month high of $33.45. The company has a fifty day moving average of $29.74 and a 200-day moving average of $28.68. The firm has a market capitalization of $12.33 billion, a P/E ratio of 19.28 and a beta of 1.54.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.68%. TechnipFMC’s dividend payout ratio is currently 10.42%.

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.