Zurcher Kantonalbank Zurich Cantonalbank Buys 7,704 Shares of TechnipFMC plc (NYSE:FTI)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of TechnipFMC plc (NYSE:FTI) by 8.6% in the 4th quarter, Holdings Channel reports. The firm owned 97,533 shares of the oil and gas company’s stock after purchasing an additional 7,704 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TechnipFMC were worth $1,955,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. State Board of Administration of Florida Retirement System raised its position in TechnipFMC by 0.5% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 126,410 shares of the oil and gas company’s stock worth $2,571,000 after purchasing an additional 660 shares during the last quarter. Fulton Bank N.A. raised its position in TechnipFMC by 6.8% during the 4th quarter. Fulton Bank N.A. now owns 10,750 shares of the oil and gas company’s stock worth $217,000 after purchasing an additional 683 shares during the last quarter. Janney Capital Management LLC raised its position in TechnipFMC by 2.8% during the 3rd quarter. Janney Capital Management LLC now owns 26,849 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 722 shares during the last quarter. Dfpg Investments LLC raised its position in TechnipFMC by 2.4% during the 4th quarter. Dfpg Investments LLC now owns 31,360 shares of the oil and gas company’s stock worth $623,000 after purchasing an additional 738 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in TechnipFMC by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 192,800 shares of the oil and gas company’s stock worth $3,922,000 after purchasing an additional 980 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

Insider Activity at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the transaction, the director now owns 103,982 shares of the company’s stock, valued at approximately $2,204,418.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.93% of the stock is owned by insiders.

TechnipFMC Stock Performance

Shares of FTI opened at $25.82 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 0.92. The stock has a 50-day moving average of $23.80 and a 200-day moving average of $21.43. The company has a market cap of $11.28 billion, a PE ratio of 215.14 and a beta of 1.65. TechnipFMC plc has a one year low of $12.64 and a one year high of $27.26.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. TechnipFMC had a net margin of 0.72% and a return on equity of 6.37%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter last year, the firm earned ($0.05) EPS. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, equities research analysts predict that TechnipFMC plc will post 1.15 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.20 annualized dividend and a yield of 0.77%. TechnipFMC’s payout ratio is 166.68%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays increased their price target on TechnipFMC from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Susquehanna reiterated a “positive” rating and set a $27.00 price target on shares of TechnipFMC in a report on Monday, April 8th. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price target for the company. in a report on Friday, February 23rd. Finally, TD Cowen increased their price target on TechnipFMC from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.34.

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.