ING Groep NV Has $22.70 Million Holdings in TechnipFMC plc (NYSE:FTI)

ING Groep NV grew its holdings in shares of TechnipFMC plc (NYSE:FTI) by 15.3% in the 3rd quarter, Holdings Channel reports. The fund owned 865,294 shares of the oil and gas company’s stock after buying an additional 114,600 shares during the period. ING Groep NV’s holdings in TechnipFMC were worth $22,697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. increased its position in TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 735 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of TechnipFMC in the 3rd quarter valued at $30,000. GAMMA Investing LLC lifted its stake in shares of TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 492 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of TechnipFMC during the 2nd quarter valued at $33,000. Finally, Crewe Advisors LLC bought a new stake in TechnipFMC during the 2nd quarter worth $51,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

TechnipFMC stock opened at $28.49 on Friday. The stock’s 50 day moving average price is $26.45 and its two-hundred day moving average price is $26.34. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 18.74 and a beta of 1.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC plc has a 52-week low of $18.33 and a 52-week high of $29.85.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the business earned $0.21 earnings per share. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, equities analysts predict that TechnipFMC plc will post 1.47 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.70%. TechnipFMC’s dividend payout ratio (DPR) is currently 13.16%.

TechnipFMC announced that its Board of Directors has approved a share buyback program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FTI. TD Cowen lifted their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, October 25th. BMO Capital Markets lifted their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. Bank of America upped their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Barclays lifted their price target on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Finally, StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $33.60.

About TechnipFMC

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.