13,436 Shares in TechnipFMC plc $FTI Bought by Equitable Holdings Inc.

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

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of TechnipFMC during the second quarter worth about $3,081,514,000. AQR Capital Management LLC lifted its position in 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 valued at $751,567,000 after purchasing an additional 3,549,839 shares during the last quarter. State Street Corp boosted its stake in TechnipFMC by 62.2% during 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 during the period. Invesco Ltd. boosted its stake in TechnipFMC by 64.9% during 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 during the period. Finally, Boston Partners grew its position in TechnipFMC by 2.0% in 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 last quarter. 96.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Eric D. Mullins acquired 6,365 shares of the company’s stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the purchase, the director owned 8,070 shares in the company, valued at $633,898.50. This represents a 373.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.40% of the company’s stock.

TechnipFMC Trading Down 0.7%

TechnipFMC stock opened at $75.81 on Friday. TechnipFMC plc has a 52 week low of $35.29 and a 52 week high of $80.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The firm has a market capitalization of $29.73 billion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.55 and a beta of 0.72. The company has a 50 day moving average price of $72.07 and a 200 day moving average price of $69.86.

TechnipFMC (NYSE:FTI) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the business earned $0.68 EPS. The company’s revenue was up 9.0% on a year-over-year basis. Research analysts forecast that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s payout ratio is presently 6.94%.

Analyst Ratings Changes

Several equities research analysts have commented on FTI shares. Wall Street Zen lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Barclays increased their price objective on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Thirteen analysts have rated the stock with a Buy rating and three have assigned 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 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.