Hsbc Holdings PLC Invests $85.82 Million in TechnipFMC plc $FTI

Hsbc Holdings PLC purchased a new position in shares of TechnipFMC plc (NYSE:FTI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,293,755 shares of the oil and gas company’s stock, valued at approximately $85,819,000. Hsbc Holdings PLC owned 0.33% of TechnipFMC at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in shares of TechnipFMC during the first quarter valued at approximately $26,000. Ascentis Independent Advisors purchased a new stake in shares of TechnipFMC in the first quarter worth approximately $37,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of TechnipFMC in the second quarter worth approximately $37,000. First Pacific Financial bought a new stake in shares of TechnipFMC during the 1st quarter worth approximately $52,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of TechnipFMC during the 3rd quarter worth approximately $32,000. 96.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling at TechnipFMC

In other news, Director Eric D. Mullins acquired 6,365 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the acquisition, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. The trade was a 373.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.

TechnipFMC Stock Up 0.7%

Shares of NYSE:FTI opened at $75.71 on Thursday. The business’s 50 day moving average is $71.62 and its 200 day moving average is $69.70. The stock has a market cap of $29.69 billion, a P/E ratio of 26.29, a price-to-earnings-growth ratio of 1.54 and a beta of 0.72. TechnipFMC plc has a 52-week low of $35.29 and a 52-week high of $80.55. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the company posted $0.68 EPS. TechnipFMC’s revenue was up 9.0% on a year-over-year basis. Sell-side analysts predict that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Royal Bank Of Canada upped their price objective on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. UBS Group set a $80.00 price target on shares of TechnipFMC in a report on Wednesday, June 3rd. Evercore reaffirmed an “outperform” rating and issued a $83.00 price target on shares of TechnipFMC in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.64.

TechnipFMC Company 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.