ING Groep NV Has $43.12 Million Stake in TechnipFMC plc $FTI

ING Groep NV grew its position in TechnipFMC plc (NYSE:FTI) by 26.3% in the third quarter, HoldingsChannel.com reports. The fund owned 1,092,894 shares of the oil and gas company’s stock after buying an additional 227,800 shares during the quarter. ING Groep NV’s holdings in TechnipFMC were worth $43,115,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of FTI. Blue Trust Inc. raised its position in TechnipFMC by 5,475.0% in the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 657 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of TechnipFMC in the second quarter valued at $44,000. McIlrath & Eck LLC raised its holdings in shares of TechnipFMC by 476.3% in the third quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 1,024 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in TechnipFMC during the 3rd quarter worth about $51,000. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FTI has been the subject of a number of research analyst reports. Royal Bank Of Canada boosted their target price on shares of TechnipFMC from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Jefferies Financial Group raised their price target on shares of TechnipFMC from $47.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Susquehanna upped their price objective on TechnipFMC from $48.00 to $56.00 and gave the stock a “positive” rating in a report on Wednesday, January 7th. Citigroup increased their price objective on TechnipFMC from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.58.

TechnipFMC Stock Up 0.4%

Shares of TechnipFMC stock opened at $60.23 on Wednesday. The business has a fifty day simple moving average of $49.88 and a 200 day simple moving average of $42.92. The stock has a market cap 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. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $60.49.

TechnipFMC announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 22nd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 13.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

TechnipFMC Company 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.