TechnipFMC plc (NYSE:FTI) Holdings Lifted by KBC Group NV

KBC Group NV boosted its holdings in TechnipFMC plc (NYSE:FTI) by 41.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 17,700 shares of the oil and gas company’s stock after purchasing an additional 5,215 shares during the quarter. KBC Group NV’s holdings in TechnipFMC were worth $512,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Blue Trust Inc. grew its holdings 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 worth $29,000 after acquiring an additional 735 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in TechnipFMC in the 3rd quarter worth about $30,000. GAMMA Investing LLC increased its stake in TechnipFMC by 59.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 693 shares in the last quarter. Toth Financial Advisory Corp raised its holdings in TechnipFMC by 1,900.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock worth $52,000 after buying an additional 1,900 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in TechnipFMC during the third quarter valued at about $56,000. 96.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Royal Bank of Canada initiated coverage on shares of TechnipFMC in a research report on Monday, November 18th. They set an “outperform” rating and a $37.00 price objective on the stock. Citigroup upped their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and upped their target price for the company from $29.00 to $40.00 in a research note 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. Finally, Bank of America increased their target price on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $36.15.

TechnipFMC Stock Performance

FTI opened at $30.05 on Monday. TechnipFMC plc has a 1 year low of $18.53 and a 1 year high of $33.45. The company has a market capitalization of $12.78 billion, a PE ratio of 19.77 and a beta of 1.54. The business has a fifty day simple moving average of $30.80 and a 200 day simple moving average of $28.23. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.