ING Groep NV Grows Position in TechnipFMC plc (NYSE:FTI)

ING Groep NV grew its position in TechnipFMC plc (NYSE:FTI - Free Report) by 15.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 865,294 shares of the oil and gas company's stock after acquiring an additional 114,600 shares during the quarter. ING Groep NV owned about 0.20% of TechnipFMC worth $22,697,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of TechnipFMC by 203.6% during the third 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 during the period. 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 worth $30,000 after acquiring an additional 492 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of TechnipFMC in the third quarter valued at about $30,000. ORG Partners LLC acquired a new position in shares of TechnipFMC during the second quarter worth about $33,000. Finally, Crewe Advisors LLC purchased a new position in TechnipFMC during the second quarter worth about $51,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on FTI. TD Cowen boosted their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Barclays increased their price objective on TechnipFMC from $34.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Susquehanna boosted their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a "positive" rating in a research report on Friday, October 25th. Bank of America increased their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the company a "buy" rating in a report on Monday, October 14th. Finally, Hsbc Global Res raised shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $33.60.

TechnipFMC Price Performance

Shares of TechnipFMC stock traded down $0.33 during trading on Friday, hitting $28.16. 3,506,986 shares of the company were exchanged, compared to its average volume of 4,018,911. TechnipFMC plc has a fifty-two week low of $18.33 and a fifty-two week high of $29.85. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average price of $26.54 and a 200 day moving average price of $26.35. The stock has a market capitalization of $11.98 billion, a price-to-earnings ratio of 18.53 and a beta of 1.51.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.25. The company had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. On average, equities analysts expect that TechnipFMC plc will post 1.47 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.71%. TechnipFMC's dividend payout ratio (DPR) is currently 13.16%.

TechnipFMC announced that its Board of Directors has approved a share buyback plan on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

TechnipFMC Company Profile

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.