ING Groep NV Has $31.02 Million Stock Position in TechnipFMC plc (NYSE:FTI)

ING Groep NV raised its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 23.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,071,994 shares of the oil and gas company's stock after acquiring an additional 206,700 shares during the quarter. ING Groep NV owned about 0.25% of TechnipFMC worth $31,024,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in shares of TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company's stock valued at $29,000 after purchasing an additional 735 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in shares of TechnipFMC in the fourth quarter worth about $45,000. V Square Quantitative Management LLC boosted its stake in shares of TechnipFMC by 48.2% during the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock worth $50,000 after acquiring an additional 563 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of TechnipFMC during the 3rd quarter valued at about $56,000. Finally, True Wealth Design LLC bought a new position in shares of TechnipFMC in the 3rd quarter valued at approximately $57,000. 96.58% of the stock is owned by institutional investors.

TechnipFMC Stock Performance

Shares of NYSE:FTI traded down $1.42 during trading on Friday, hitting $29.06. 4,306,782 shares of the stock were exchanged, compared to its average volume of 3,310,958. The company has a market capitalization of $12.36 billion, a price-to-earnings ratio of 19.12 and a beta of 1.52. 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 1-year low of $20.04 and a 1-year high of $33.45. The company's fifty day simple moving average is $30.71 and its 200-day simple moving average is $28.49.

Analysts Set New Price Targets

Several equities analysts have commented on FTI shares. Jefferies Financial Group upgraded TechnipFMC from a "hold" rating to a "buy" rating and increased their price target for the company from $29.00 to $40.00 in a report on Friday, December 6th. StockNews.com upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Hsbc Global Res raised shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. Citigroup raised their price target on TechnipFMC from $34.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Finally, Piper Sandler assumed coverage on TechnipFMC in a research report on Thursday, December 19th. They set an "overweight" rating and a $39.00 price objective for the company. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $36.15.

TechnipFMC 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.