Envestnet Portfolio Solutions Inc. Increases Holdings in TechnipFMC plc $FTI

Envestnet Portfolio Solutions Inc. lifted its position in TechnipFMC plc (NYSE:FTI) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,335 shares of the oil and gas company’s stock after purchasing an additional 615 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in TechnipFMC were worth $1,079,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. New York State Teachers Retirement System purchased a new position in TechnipFMC during the first quarter valued at approximately $33,000. Geneos Wealth Management Inc. raised its position in 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 acquiring an additional 340 shares in the last quarter. Financial Network Wealth Advisors LLC raised its position 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 valued at $48,000 after acquiring an additional 346 shares in the last quarter. Brooklyn Investment Group raised its position in TechnipFMC by 2,216.1% during the first quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company’s stock valued at $68,000 after acquiring an additional 2,061 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA raised its position in TechnipFMC by 67.2% during the second quarter. Compagnie Lombard Odier SCmA now owns 2,608 shares of the oil and gas company’s stock valued at $90,000 after acquiring an additional 1,048 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Barclays lifted their price target on TechnipFMC from $45.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. JPMorgan Chase & Co. lifted their price target on TechnipFMC from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. BNP Paribas Exane raised TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 price objective on the stock in a report on Friday, October 10th. Zacks Research raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Finally, Royal Bank Of Canada raised their price objective on TechnipFMC from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Three investment 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $41.93.

TechnipFMC Stock Up 0.6%

Shares of FTI opened at $35.93 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average is $37.64 and its two-hundred day moving average is $33.62. The firm has a market cap of $14.77 billion, a P/E ratio of 16.95, a PEG ratio of 1.06 and a beta of 1.04. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $41.29.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.11. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%.The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. Analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. TechnipFMC’s payout ratio is currently 9.43%.

Insider Transactions at TechnipFMC

In other news, CFO Alf Melin sold 113,760 shares of TechnipFMC stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.61, for a total value of $4,392,273.60. Following the sale, the chief financial officer directly owned 241,140 shares of the company’s stock, valued at $9,310,415.40. The trade was a 32.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Douglas J. Pferdehirt sold 80,304 shares of TechnipFMC stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.35, for a total value of $3,079,658.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 885,984 shares of company stock valued at $34,180,811. Insiders own 1.80% of the company’s stock.

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.