KBC Group NV Purchases 29,989 Shares of TechnipFMC plc $FTI

KBC Group NV grew its position in shares of TechnipFMC plc (NYSE:FTI) by 246.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 42,155 shares of the oil and gas company’s stock after acquiring an additional 29,989 shares during the period. KBC Group NV’s holdings in TechnipFMC were worth $2,914,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in TechnipFMC during the first quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. bought a new position in shares of TechnipFMC during the third quarter valued at about $32,000. Geneos Wealth Management Inc. increased its holdings in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after buying an additional 340 shares during the period. Ascentis Independent Advisors bought a new stake in shares of TechnipFMC in the 1st quarter valued at about $37,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $41,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on FTI. Barclays raised their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Royal Bank Of Canada lifted their price objective on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. UBS Group set a $80.00 target price on TechnipFMC in a research note on Wednesday, June 3rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Finally, Citigroup lifted their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $69.64.

TechnipFMC Price Performance

Shares of FTI opened at $76.70 on Friday. TechnipFMC plc has a twelve month low of $34.27 and a twelve month high of $77.92. The company has a market capitalization of $30.58 billion, a P/E ratio of 29.28, a price-to-earnings-growth ratio of 1.60 and a beta of 0.70. The firm has a 50 day moving average of $69.53 and a 200 day moving average of $66.19. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts anticipate that TechnipFMC plc will post 3.01 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were paid a $0.05 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s payout ratio is currently 7.63%.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.