TechnipFMC plc $FTI Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 6,381.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,293,755 shares of the oil and gas company's stock after buying an additional 1,273,794 shares during the quarter. Hsbc Holdings PLC owned 0.33% of TechnipFMC worth $85,819,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in TechnipFMC in the first quarter worth approximately $26,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of TechnipFMC in the 3rd quarter valued at approximately $32,000. Geneos Wealth Management Inc. raised its holdings in shares of TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 340 shares in the last quarter. Ascentis Independent Advisors acquired a new stake in shares of TechnipFMC in the 1st quarter valued at $37,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of TechnipFMC during the 2nd quarter worth $37,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $79.66 on Monday. TechnipFMC plc has a 12 month low of $35.29 and a 12 month high of $80.70. The firm has a market capitalization of $31.24 billion, a P/E ratio of 27.66, a P/E/G 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. The company's fifty day moving average price is $73.40 and its 200 day moving average price is $70.56.

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. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. TechnipFMC's revenue for the quarter was up 9.0% on a year-over-year basis. As a group, sell-side analysts predict that TechnipFMC plc will post 3.17 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FTI. Weiss Ratings downgraded shares of TechnipFMC from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday, August 27th. UBS Group set a $80.00 price target on TechnipFMC in a report on Wednesday, June 3rd. Citigroup upped their price objective on TechnipFMC from $76.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Jefferies Financial Group reiterated a "buy" rating on shares of TechnipFMC in a report on Sunday, May 31st. Finally, Susquehanna cut their target price on TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a research report on Wednesday, July 8th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $69.64.

Insider Transactions at TechnipFMC

In other news, Director Eric Mullins purchased 6,365 shares of the business's stock in a transaction on Friday, August 14th. The shares were bought at an average price of $78.55 per share, with a total value of $499,970.75. Following the completion of 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by corporate insiders.

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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