Equitable Holdings Inc. Takes Position in TechnipFMC plc $FTI

Equitable Holdings Inc. bought a new position in TechnipFMC plc (NYSE:FTI - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,436 shares of the oil and gas company's stock, valued at approximately $891,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FTI. BlackRock Inc. acquired a new stake in TechnipFMC during the second quarter worth about $3,081,514,000. AQR Capital Management LLC raised its holdings in shares of TechnipFMC by 26.7% in the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company's stock worth $751,567,000 after purchasing an additional 3,549,839 shares during the period. State Street Corp lifted its stake in shares of TechnipFMC by 62.2% in the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company's stock valued at $508,276,000 after purchasing an additional 4,938,498 shares in the last quarter. Invesco Ltd. lifted its stake in shares of TechnipFMC by 64.9% in the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company's stock valued at $502,284,000 after purchasing an additional 4,437,960 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of TechnipFMC by 2.0% during the 3rd quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company's stock worth $389,018,000 after purchasing an additional 192,549 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Trading Down 0.7%

Shares of NYSE FTI opened at $75.81 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. The stock's 50 day moving average price is $72.07 and its two-hundred day moving average price is $69.86. TechnipFMC plc has a 52-week low of $35.29 and a 52-week high of $80.55. The stock has a market capitalization of $29.73 billion, a P/E ratio of 26.32, a PEG ratio of 1.55 and a beta of 0.72.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The firm's revenue was up 9.0% on a year-over-year basis. On average, analysts anticipate that TechnipFMC plc will post 3.09 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be given 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 is Tuesday, August 18th. TechnipFMC's dividend payout ratio (DPR) is presently 6.94%.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Eric D. Mullins acquired 6,365 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was acquired 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 approximately $633,898.50. This represents a 373.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. UBS Group set a $80.00 target price on shares of TechnipFMC in a research report on Wednesday, June 3rd. Wall Street Zen downgraded shares of TechnipFMC from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Zacks Research lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Barclays raised their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.

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