TechnipFMC plc (NYSE:FTI) Shares Sold by Zions Bancorporation N.A.

Zions Bancorporation N.A. lessened its stake in shares of TechnipFMC plc (NYSE:FTI) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 168,274 shares of the oil and gas company’s stock after selling 8,105 shares during the period. Zions Bancorporation N.A.’s holdings in TechnipFMC were worth $4,400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of FTI. Brown Advisory Inc. purchased a new stake in shares of TechnipFMC in the 4th quarter valued at approximately $830,000. Norden Group LLC raised its stake in TechnipFMC by 2,899.1% during the 1st quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock worth $9,514,000 after acquiring an additional 366,266 shares in the last quarter. Vanguard Group Inc. raised its stake in TechnipFMC by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock worth $803,888,000 after acquiring an additional 126,247 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in TechnipFMC during the 1st quarter worth $965,000. Finally, Balyasny Asset Management L.P. grew its position in TechnipFMC by 868.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock worth $63,082,000 after purchasing an additional 2,808,618 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Activity

In related news, CAO David Light sold 5,928 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total value of $153,001.68. Following the completion of the sale, the chief accounting officer now directly owns 11,534 shares in the company, valued at $297,692.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FTI. Citigroup raised their price objective on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Susquehanna boosted their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.38.

TechnipFMC Stock Performance

NYSE:FTI opened at $23.91 on Friday. The firm has a 50 day simple moving average of $26.62 and a 200-day simple moving average of $25.67. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84. The firm has a market cap of $10.24 billion, a PE ratio of 50.87 and a beta of 1.50. TechnipFMC plc has a 1-year low of $18.33 and a 1-year high of $29.85.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.23 billion. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The company’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 earnings per share. On average, equities analysts expect that TechnipFMC plc will post 1.34 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Tuesday, August 20th. TechnipFMC’s dividend payout ratio is presently 42.55%.

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.