TechnipFMC plc (NYSE:FTI) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its holdings in shares of TechnipFMC plc (NYSE:FTI) by 12.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 355,900 shares of the oil and gas company’s stock after selling 48,840 shares during the period. Hennessy Advisors Inc. owned 0.08% of TechnipFMC worth $11,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in TechnipFMC by 8.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 88,101 shares of the oil and gas company’s stock worth $2,792,000 after buying an additional 6,947 shares during the last quarter. GAMMA Investing LLC lifted its holdings in TechnipFMC by 27.0% during the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company’s stock worth $91,000 after buying an additional 614 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in TechnipFMC by 90.3% during the 1st quarter. Pallas Capital Advisors LLC now owns 55,214 shares of the oil and gas company’s stock worth $1,750,000 after buying an additional 26,203 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in TechnipFMC by 346.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company’s stock worth $92,000 after buying an additional 2,219 shares during the last quarter. Finally, Portside Wealth Group LLC boosted its position in shares of TechnipFMC by 5.1% in the 1st quarter. Portside Wealth Group LLC now owns 38,346 shares of the oil and gas company’s stock valued at $1,215,000 after purchasing an additional 1,855 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $34.53 on Friday. TechnipFMC plc has a one year low of $22.12 and a one year high of $35.27. The business’s fifty day moving average price is $29.23 and its two-hundred day moving average price is $29.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The stock has a market cap of $14.48 billion, a PE ratio of 22.72 and a beta of 1.06.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business earned $0.22 EPS. TechnipFMC’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Tuesday, May 20th. TechnipFMC’s dividend payout ratio (DPR) is 10.53%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. Barclays upped their target price on TechnipFMC from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Piper Sandler upped their target price on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Sanford C. Bernstein cut TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 target price for the company. in a research report on Thursday, May 22nd. Finally, Susquehanna reduced their price objective on TechnipFMC from $41.00 to $35.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.46.

Insider Transactions at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.76, for a total value of $279,178.56. Following the transaction, the director now directly owns 100,951 shares of the company’s stock, valued at approximately $3,004,301.76. This trade represents a 8.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

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.