Alliancebernstein L.P. Purchases 3,111,399 Shares of TechnipFMC plc $FTI

Alliancebernstein L.P. increased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 184.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,802,525 shares of the oil and gas company’s stock after buying an additional 3,111,399 shares during the period. Alliancebernstein L.P. owned 1.19% of TechnipFMC worth $189,460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new stake in TechnipFMC in the second quarter valued at about $151,413,000. AQR Capital Management LLC raised its position in shares of TechnipFMC by 34.0% during the third quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company’s stock worth $525,339,000 after purchasing an additional 3,378,159 shares during the period. Pacer Advisors Inc. lifted its stake in TechnipFMC by 91.5% in the third quarter. Pacer Advisors Inc. now owns 3,837,314 shares of the oil and gas company’s stock valued at $151,382,000 after buying an additional 1,833,601 shares in the last quarter. Bank of New York Mellon Corp lifted its position in TechnipFMC by 80.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock valued at $125,144,000 after acquiring an additional 1,415,621 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of TechnipFMC by 61.6% in the second quarter. Qube Research & Technologies Ltd now owns 3,399,955 shares of the oil and gas company’s stock valued at $117,094,000 after purchasing an additional 1,296,358 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Trading Up 1.1%

FTI stock opened at $63.71 on Tuesday. TechnipFMC plc has a one year low of $22.11 and a one year high of $68.29. The stock has a market cap of $25.49 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.16 and a beta of 0.70. The company has a fifty day moving average price of $58.70 and a two-hundred day moving average price of $47.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.89.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. TechnipFMC’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.54 EPS. Equities analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s payout ratio is 8.66%.

Insider Activity at TechnipFMC

In other news, EVP Justin Rounce sold 172,276 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.10, for a total value of $10,698,339.60. Following the completion of the sale, the executive vice president owned 119,667 shares of the company’s stock, valued at approximately $7,431,320.70. The trade was a 59.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Alf Melin sold 43,554 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $63.13, for a total transaction of $2,749,564.02. Following the completion of the transaction, the chief financial officer owned 238,983 shares in the company, valued at $15,086,996.79. This trade represents a 15.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,210,092 shares of company stock valued at $75,322,232. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FTI. BMO Capital Markets lifted their target price on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, February 23rd. Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Royal Bank Of Canada increased their price objective on shares of TechnipFMC from $47.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a research report on Thursday, January 22nd. Finally, Citigroup boosted their price target on TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $58.47.

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.