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

Envestnet Portfolio Solutions Inc. raised its position in TechnipFMC plc (NYSE:FTI) by 336.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,266 shares of the oil and gas company’s stock after purchasing an additional 27,190 shares during the quarter. 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 also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in shares of TechnipFMC by 55.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock worth $43,000 after buying an additional 525 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of TechnipFMC during the 4th quarter worth approximately $45,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of TechnipFMC in the fourth quarter valued at approximately $46,000. EverSource Wealth Advisors LLC lifted its position in shares of TechnipFMC by 393.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in TechnipFMC by 48.2% during the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 563 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other TechnipFMC news, CAO David Light sold 10,147 shares of the firm’s stock in a transaction 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 owns 7,529 shares in the company, valued at $187,472.10. This trade represents a 57.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Justin Rounce sold 42,178 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the sale, the executive vice president now 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $29.31 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The firm has a market cap of $12.33 billion, a price-to-earnings ratio of 19.28 and a beta of 1.54. The stock’s fifty day moving average price is $29.74 and its two-hundred day moving average price is $28.68. TechnipFMC plc has a one year low of $22.99 and a one year high of $33.45.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s dividend payout ratio is 10.42%.

Analyst Ratings Changes

Several brokerages have commented on FTI. Barclays boosted their price target 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 increased their price target on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Piper Sandler upped their price objective on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and boosted their target price for the stock from $29.00 to $40.00 in a report on Friday, December 6th. Finally, TD Cowen reiterated a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, TechnipFMC presently has a consensus rating of “Buy” and a consensus price target of $36.31.

TechnipFMC 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.