TechnipFMC plc (NYSE:FTI) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its holdings in shares of TechnipFMC plc (NYSE:FTI) by 24.8% in the fourth quarter, Holdings Channel reports. The firm owned 6,811,668 shares of the oil and gas company’s stock after selling 2,246,521 shares during the period. Van ECK Associates Corp’s holdings in TechnipFMC were worth $137,187,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ballentine Partners LLC acquired a new stake in TechnipFMC in the third quarter valued at approximately $203,000. Xponance Inc. grew its position in TechnipFMC by 128.1% in the third quarter. Xponance Inc. now owns 34,638 shares of the oil and gas company’s stock valued at $705,000 after acquiring an additional 19,451 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in TechnipFMC by 14.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 12,994 shares of the oil and gas company’s stock valued at $264,000 after acquiring an additional 1,674 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in TechnipFMC by 17.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,829 shares of the oil and gas company’s stock valued at $1,820,000 after acquiring an additional 13,265 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of TechnipFMC by 50.0% during the third quarter. Mackenzie Financial Corp now owns 836,307 shares of the oil and gas company’s stock worth $16,659,000 after buying an additional 278,637 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Performance

Shares of FTI traded down $0.61 during midday trading on Tuesday, hitting $25.99. 760,475 shares of the stock traded hands, compared to its average volume of 4,663,456. TechnipFMC plc has a 1-year low of $12.64 and a 1-year high of $27.26. The firm has a market capitalization of $11.36 billion, a PE ratio of 55.45 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.87 and a current ratio of 1.16. The business’s 50 day moving average price is $24.35 and its two-hundred day moving average price is $21.61.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.60%. The business’s revenue was up 18.9% compared to the same quarter last year. Equities research analysts predict that TechnipFMC plc will post 1.15 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Monday, May 20th. TechnipFMC’s payout ratio is currently 42.55%.

Insiders Place Their Bets

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the sale, the director now directly owns 103,982 shares in the company, valued at $2,204,418.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.93% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FTI shares. Barclays raised their price target on shares of TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday. Benchmark reissued a “buy” rating and set a $30.00 price target on shares of TechnipFMC in a research report on Friday. Bank of America raised their price target on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research report on Monday, April 15th. TD Cowen raised their price target on shares of TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday. Finally, HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price objective for the company. in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and an average price target of $26.14.

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.