Zions Bancorporation National Association UT Lowers Holdings in TechnipFMC plc $FTI

Zions Bancorporation National Association UT lessened its stake in TechnipFMC plc (NYSE:FTI) by 14.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 112,555 shares of the oil and gas company’s stock after selling 19,756 shares during the quarter. Zions Bancorporation National Association UT’s holdings in TechnipFMC were worth $5,015,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of FTI. State Street Corp raised its position in TechnipFMC by 62.2% in the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after buying an additional 4,938,498 shares during the last quarter. Norges Bank purchased a new position in TechnipFMC in the 4th quarter worth about $205,468,000. AQR Capital Management LLC raised its position in TechnipFMC by 34.0% in the 3rd quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company’s stock worth $525,339,000 after buying an additional 3,378,159 shares during the last quarter. Alliancebernstein L.P. raised its position in TechnipFMC by 184.0% in the 3rd quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company’s stock worth $189,460,000 after buying an additional 3,111,399 shares during the last quarter. Finally, Danske Bank A S purchased a new position in TechnipFMC in the 3rd quarter worth about $52,848,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Zacks Research lowered TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Evercore reissued an “outperform” rating and issued a $83.00 target price on shares of TechnipFMC in a research report on Friday, May 1st. Susquehanna boosted their target price on TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a research report on Friday, May 1st. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.71.

TechnipFMC Trading Up 2.5%

Shares of NYSE:FTI opened at $70.13 on Thursday. The stock has a 50 day moving average of $71.62 and a 200 day moving average of $60.89. The company has a market cap of $27.96 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.47 and a beta of 0.69. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 12-month low of $31.88 and a 12-month high of $77.78.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 EPS. As a group, equities research analysts expect that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s payout ratio is 7.63%.

Insider Activity

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total transaction of $440,182.00. Following the completion of the transaction, the director directly owned 59,887 shares in the company, valued at approximately $4,151,366.84. The trade was a 9.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.40% of the company’s stock.

TechnipFMC Company Profile

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.