Hsbc Holdings PLC raised its holdings in TechnipFMC plc (NYSE:FTI – Free Report) by 6,381.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,293,755 shares of the oil and gas company’s stock after purchasing an additional 1,273,794 shares during the quarter. Hsbc Holdings PLC’s holdings in TechnipFMC were worth $85,819,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in shares of TechnipFMC during the first quarter worth about $26,000. Ascentis Independent Advisors acquired a new stake in TechnipFMC during the 1st quarter worth approximately $37,000. Keating Financial Advisory Services Inc. acquired a new stake in TechnipFMC during the 2nd quarter worth approximately $37,000. First Pacific Financial purchased a new position in shares of TechnipFMC in the 1st quarter valued at approximately $52,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of TechnipFMC in the 3rd quarter valued at approximately $32,000. 96.58% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on FTI shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. UBS Group set a $80.00 target price on shares of TechnipFMC in a research note on Wednesday, June 3rd. Finally, Susquehanna lowered their target price on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.
TechnipFMC Stock Down 0.2%
TechnipFMC stock opened at $79.66 on Monday. The stock’s 50 day moving average price is $73.40 and its 200 day moving average price is $70.56. TechnipFMC plc has a 1-year low of $35.29 and a 1-year high of $80.70. The company has a market cap of $31.24 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.59 and a beta of 0.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85.
TechnipFMC (NYSE:FTI – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. TechnipFMC’s revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts predict that TechnipFMC plc will post 3.17 EPS for the current fiscal year.
TechnipFMC Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Tuesday, August 18th. TechnipFMC’s dividend payout ratio (DPR) is currently 6.94%.
Insider Activity at TechnipFMC
In related news, Director Eric Mullins bought 6,365 shares of the stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the transaction, the director owned 8,070 shares of the company’s stock, valued at $633,898.50. This represents a 373.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by company insiders.
About TechnipFMC
TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.
Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.
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