Hsbc Holdings PLC Has $6.84 Million Position in TechnipFMC plc (NYSE:FTI)

Hsbc Holdings PLC lowered its holdings in shares of TechnipFMC plc (NYSE:FTI) by 18.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 234,006 shares of the oil and gas company’s stock after selling 52,807 shares during the quarter. Hsbc Holdings PLC’s holdings in TechnipFMC were worth $6,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of TechnipFMC by 851.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 18,412 shares of the oil and gas company’s stock valued at $533,000 after purchasing an additional 16,476 shares in the last quarter. Ostrum Asset Management boosted its stake in shares of TechnipFMC by 44.7% in the 4th quarter. Ostrum Asset Management now owns 48,445 shares of the oil and gas company’s stock valued at $1,402,000 after purchasing an additional 14,965 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of TechnipFMC by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,920,929 shares of the oil and gas company’s stock valued at $142,414,000 after buying an additional 138,556 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of TechnipFMC by 88.2% in the fourth quarter. Canada Pension Plan Investment Board now owns 287,800 shares of the oil and gas company’s stock valued at $8,329,000 after buying an additional 134,900 shares during the last quarter. Finally, Farringdon Capital Ltd. bought a new position in shares of TechnipFMC in the fourth quarter valued at about $214,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FTI shares. Barclays lifted their price target on TechnipFMC from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 price target on shares of TechnipFMC in a report on Monday. StockNews.com cut TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Evercore ISI lifted their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Finally, Piper Sandler increased their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.83.

Insider Buying and Selling

In related news, CAO David Light sold 10,147 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the transaction, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.76, for a total transaction of $279,178.56. Following the completion of the transaction, the director now directly owns 100,951 shares of the company’s stock, valued at approximately $3,004,301.76. This trade represents a 8.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,706 shares of company stock worth $1,651,665 over the last ninety days. Company insiders own 1.80% of the company’s stock.

TechnipFMC Trading Up 1.4 %

FTI opened at $28.74 on Tuesday. The firm’s fifty day moving average is $27.48 and its two-hundred day moving average is $28.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The firm has a market cap of $12.09 billion, a PE ratio of 18.91 and a beta of 1.11. TechnipFMC plc has a twelve month low of $22.12 and a twelve month high of $33.45.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.26 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $0.22 earnings per share. Equities research analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.70%. TechnipFMC’s payout ratio is 10.42%.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.