46,478,346 Shares in TechnipFMC plc $FTI Bought by BlackRock Inc.

BlackRock Inc. bought a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 46,478,346 shares of the oil and gas company's stock, valued at approximately $3,081,514,000. BlackRock Inc. owned 11.85% of TechnipFMC as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FTI. Focus Partners Advisor Solutions LLC acquired a new stake in shares of TechnipFMC in the second quarter valued at about $3,470,000. Chase Investment Counsel Corp acquired a new stake in TechnipFMC in the 2nd quarter valued at about $12,397,000. Asset Management One Co. Ltd. bought a new position in TechnipFMC in the 4th quarter worth approximately $833,000. Fisher Asset Management LLC lifted its holdings in TechnipFMC by 7.1% during the 4th quarter. Fisher Asset Management LLC now owns 408,437 shares of the oil and gas company's stock worth $18,200,000 after buying an additional 27,111 shares in the last quarter. Finally, BankChampaign National Association acquired a new position in TechnipFMC during the 1st quarter worth $1,157,000. 96.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Eric D. Mullins acquired 6,365 shares of TechnipFMC stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $78.55 per share, with a total value of $499,970.75. Following the transaction, the director directly owned 8,070 shares in the company, valued at $633,898.50. This represents a 373.31% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.40% of the company's stock.

TechnipFMC Stock Performance

NYSE FTI opened at $78.39 on Wednesday. The firm's fifty day moving average price is $70.72 and its two-hundred day moving average price is $68.84. The stock has a market cap of $30.74 billion, a PE ratio of 27.22, a PEG ratio of 1.62 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. TechnipFMC plc has a fifty-two week low of $34.27 and a fifty-two week high of $80.42.

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, beating the consensus estimate of $0.80 by $0.11. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The firm's revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 earnings per share. On average, equities analysts expect that TechnipFMC plc will post 3.08 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC's dividend payout ratio (DPR) is currently 6.94%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FTI. Wall Street Zen cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings upgraded TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a report on Thursday, August 13th. The Goldman Sachs Group reissued a "buy" rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Royal Bank Of Canada increased their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday, May 1st. Finally, Barclays boosted their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $69.64.

TechnipFMC Profile

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.

Want to see what other hedge funds are holding FTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TechnipFMC plc (NYSE:FTI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source