Hsbc Holdings PLC Acquires New Holdings in TechnipFMC plc $FTI

Hsbc Holdings PLC acquired a new position in TechnipFMC plc (NYSE:FTI) in the second quarter, Holdings Channel reports. The fund acquired 1,293,755 shares of the oil and gas company’s stock, valued at approximately $85,819,000.

A number of other hedge funds also recently bought and sold shares of FTI. EFG International AG bought a new stake in TechnipFMC during the 2nd quarter valued at $785,000. Primecap Management Co. CA bought a new position in shares of TechnipFMC in the 2nd quarter worth $90,159,000. PDT Partners LLC bought a new position in shares of TechnipFMC in the 2nd quarter worth $6,843,000. Canada Pension Plan Investment Board purchased a new stake in shares of TechnipFMC during the 2nd quarter worth $11,119,000. Finally, Manatuck Hill Partners LLC purchased a new stake in shares of TechnipFMC during the 2nd quarter worth $464,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Up 0.7%

Shares of FTI stock opened at $75.71 on Thursday. TechnipFMC plc has a 1-year low of $35.29 and a 1-year high of $80.55. The stock’s fifty day moving average price is $71.62 and its 200 day moving average price is $69.70. 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 has a market cap of $29.69 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 1.54 and a beta of 0.72.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations 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 period last year, the business posted $0.68 earnings per share. On average, research analysts expect that TechnipFMC plc will post 3.09 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be issued 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 is 6.94%.

Insider Activity at TechnipFMC

In related 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, with a total value of $499,970.75. Following the transaction, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. This trade represents a 373.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. UBS Group set a $80.00 target price on TechnipFMC in a research note on Wednesday, June 3rd. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Citigroup raised their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Royal Bank Of Canada boosted their price objective on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. One investment 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.