Van ECK Associates Corp Sells 2,246,521 Shares of TechnipFMC plc (NYSE:FTI)

Van ECK Associates Corp reduced its stake in TechnipFMC plc (NYSE:FTI) by 24.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 owned approximately 1.56% of TechnipFMC worth $137,187,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FTI. Parkside Financial Bank & Trust bought a new stake in TechnipFMC during the third quarter valued at $29,000. Harvest Fund Management Co. Ltd bought a new stake in TechnipFMC during the fourth quarter valued at $45,000. Systematic Alpha Investments LLC bought a new stake in TechnipFMC during the third quarter valued at $146,000. Ballentine Partners LLC purchased a new stake in TechnipFMC during the third quarter valued at about $203,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in TechnipFMC during the fourth quarter valued at about $203,000. 96.58% of the stock is owned by institutional investors.

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 on 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 owns 103,982 shares in the company, valued at approximately $2,204,418.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.93% of the company’s stock.

TechnipFMC Stock Performance

Shares of TechnipFMC stock traded down $0.61 on Tuesday, hitting $25.99. 760,475 shares of the company’s stock were exchanged, compared to its average volume of 4,663,456. The company has a 50-day simple moving average of $24.35 and a 200-day simple moving average of $21.61. The stock has a market capitalization of $11.36 billion, a PE ratio of 55.45 and a beta of 1.65. TechnipFMC plc has a 1 year low of $12.64 and a 1 year high of $27.26. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.87 and a current ratio of 1.16.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results 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. TechnipFMC had a net margin of 2.61% and a return on equity of 9.60%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.96 billion. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. As a group, equities analysts anticipate that TechnipFMC plc will post 1.15 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Monday, May 20th. TechnipFMC’s dividend payout ratio (DPR) is 42.55%.

Analysts Set New Price Targets

FTI has been the subject of a number of recent research reports. HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 target price for the company. in a research note on Friday, February 23rd. Susquehanna increased their target price on shares of TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a report on Friday. TD Cowen increased their target price on shares of TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Barclays raised their price objective on shares of TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.14.

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.