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

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of TechnipFMC plc (NYSE:FTI) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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.

Other hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust bought a new stake in TechnipFMC during the 3rd quarter valued at approximately $29,000. Systematic Alpha Investments LLC acquired a new position in TechnipFMC in the 3rd quarter valued at approximately $146,000. Ballentine Partners LLC bought a new stake in shares of TechnipFMC in the 3rd quarter worth approximately $203,000. International Assets Investment Management LLC bought a new stake in shares of TechnipFMC in the 4th quarter worth approximately $203,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of TechnipFMC in the 4th quarter worth approximately $203,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Up 1.7 %

Shares of FTI opened at $25.82 on Wednesday. The stock has a fifty day moving average price of $23.80 and a two-hundred day moving average price of $21.43. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.92 and a current ratio of 1.16. TechnipFMC plc has a 52-week low of $12.64 and a 52-week high of $27.26. The company has a market cap of $11.28 billion, a price-to-earnings ratio of 215.14 and a beta of 1.65.

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

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be paid a $0.05 dividend. The ex-dividend date is Monday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.77%. TechnipFMC’s dividend payout ratio (DPR) is currently 166.68%.

Insider Activity

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the sale, the director now directly owns 103,982 shares of the company’s stock, valued at approximately $2,204,418.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

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