KBC Group NV Purchases 1,692 Shares of TechnipFMC plc (NYSE:FTI)

KBC Group NV grew its position in TechnipFMC plc (NYSE:FTI) by 15.7% in the third quarter, HoldingsChannel.com reports. The firm owned 12,485 shares of the oil and gas company’s stock after acquiring an additional 1,692 shares during the period. KBC Group NV’s holdings in TechnipFMC were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FTI. Price T Rowe Associates Inc. MD boosted its holdings in TechnipFMC by 8.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after buying an additional 3,259,348 shares during the period. Vanguard Group Inc. lifted its position in shares of TechnipFMC by 0.3% in the first quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock valued at $1,005,652,000 after acquiring an additional 134,880 shares in the last quarter. Hardman Johnston Global Advisors LLC boosted its stake in shares of TechnipFMC by 13.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after acquiring an additional 1,071,103 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of TechnipFMC by 2.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock worth $228,384,000 after purchasing an additional 204,435 shares in the last quarter. Finally, Anomaly Capital Management LP raised its stake in TechnipFMC by 50.3% during the 2nd quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock valued at $89,429,000 after purchasing an additional 1,144,087 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Tuesday, October 29th. Royal Bank of Canada started coverage on shares of TechnipFMC in a report on Monday. They issued an “outperform” rating and a $37.00 price target on the stock. Citigroup increased their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Susquehanna increased their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $33.91.

TechnipFMC Stock Performance

NYSE FTI opened at $28.79 on Wednesday. The company has a market cap of $12.25 billion, a P/E ratio of 18.94 and a beta of 1.51. The business’s 50 day moving average price is $26.74 and its 200-day moving average price is $26.40. TechnipFMC plc has a fifty-two week low of $18.33 and a fifty-two week high of $29.85. 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 (NYSE:FTI) last announced its earnings results 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 business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm posted $0.21 earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. Sell-side analysts predict that TechnipFMC plc will post 1.55 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be paid 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 dividend yield of 0.69%. TechnipFMC’s dividend payout ratio is 13.16%.

TechnipFMC declared that its board has initiated a share buyback plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are generally 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.