ING Groep NV Acquires 227,800 Shares of TechnipFMC plc $FTI

ING Groep NV boosted its holdings in shares of TechnipFMC plc (NYSE:FTI) by 26.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,092,894 shares of the oil and gas company’s stock after purchasing an additional 227,800 shares during the quarter. ING Groep NV owned about 0.27% of TechnipFMC worth $43,115,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its position in shares of TechnipFMC by 5,475.0% in the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 657 shares during the period. Geneos Wealth Management Inc. raised its stake in TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 340 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in TechnipFMC in the 2nd quarter valued at $44,000. McIlrath & Eck LLC grew its position in TechnipFMC by 476.3% in the 3rd quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,024 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in shares of TechnipFMC during the 3rd quarter worth about $51,000. 96.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FTI has been the subject of several research reports. Citigroup increased their target price on shares of TechnipFMC from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of TechnipFMC in a research report on Thursday, January 22nd. Barclays lifted their price objective on TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Jefferies Financial Group upped their target price on TechnipFMC from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus price target of $48.58.

TechnipFMC Price Performance

TechnipFMC stock opened at $60.23 on Wednesday. The business has a 50 day simple moving average of $49.88 and a 200 day simple moving average of $42.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. The company has a market capitalization of $24.36 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 1.16 and a beta of 0.69. TechnipFMC plc has a one year low of $22.11 and a one year high of $60.49.

TechnipFMC declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 22nd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the oil and gas company to purchase up to 13.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

About TechnipFMC

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.