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

KBC Group NV increased its position in TechnipFMC plc (NYSE:FTI) by 15.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,485 shares of the oil and gas company’s stock after purchasing 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 institutional investors have also added to or reduced their stakes in FTI. Price T Rowe Associates Inc. MD grew its position in shares of 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. grew its holdings in 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 worth $1,005,652,000 after purchasing an additional 134,880 shares during the period. Hardman Johnston Global Advisors LLC increased its stake in shares of TechnipFMC by 13.5% during the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after purchasing an additional 1,071,103 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings 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 valued at $228,384,000 after purchasing an additional 204,435 shares during the last quarter. Finally, Anomaly Capital Management LP boosted its position in shares of TechnipFMC by 50.3% in the 2nd quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock worth $89,429,000 after purchasing an additional 1,144,087 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of FTI opened at $28.79 on Wednesday. The firm has a fifty day simple moving average of $26.74 and a two-hundred day simple moving average of $26.40. The firm has a market cap of $12.25 billion, a PE ratio of 18.94 and a beta of 1.51. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 1-year low of $18.33 and a 1-year high of $29.85.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating 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%. TechnipFMC’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. On average, equities analysts anticipate that TechnipFMC plc will post 1.55 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Tuesday, November 19th. TechnipFMC’s payout ratio is 13.16%.

TechnipFMC declared that its board has authorized a stock buyback plan on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FTI shares. Royal Bank of Canada initiated coverage on TechnipFMC in a research report on Monday. They set an “outperform” rating and a $37.00 price objective for the company. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Tuesday, October 29th. Bank of America increased their price objective 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. Susquehanna lifted their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Finally, Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating, eleven have given 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 a consensus price target of $33.91.

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.