Zions Bancorporation National Association UT Reduces Stock Holdings in TechnipFMC plc $FTI

Zions Bancorporation National Association UT decreased its holdings in TechnipFMC plc (NYSE:FTI) by 14.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FTI. State Street Corp lifted its stake in TechnipFMC by 62.2% in the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after acquiring an additional 4,938,498 shares during the period. Norges Bank purchased a new stake in TechnipFMC in the fourth quarter worth $205,468,000. AQR Capital Management LLC lifted its stake in TechnipFMC by 34.0% in the third quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company’s stock worth $525,339,000 after acquiring an additional 3,378,159 shares during the period. Alliancebernstein L.P. lifted its stake in TechnipFMC by 184.0% in the third quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company’s stock worth $189,460,000 after acquiring an additional 3,111,399 shares during the period. Finally, Danske Bank A S purchased a new stake in TechnipFMC in the third quarter worth $52,848,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $70.13 on Thursday. The business has a fifty day simple moving average of $71.62 and a two-hundred day simple moving average of $60.89. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $27.96 billion, a P/E ratio of 26.77, a P/E/G ratio of 1.47 and a beta of 0.69. TechnipFMC plc has a 12 month low of $31.88 and a 12 month high of $77.78.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.TechnipFMC’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 EPS. On average, equities analysts forecast that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on FTI shares. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. UBS Group set a $80.00 price objective on TechnipFMC in a research report on Wednesday, June 3rd. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Susquehanna raised their price objective on TechnipFMC from $83.00 to $90.00 and gave the company a “positive” rating in a research report on Friday, May 1st. Finally, Evercore reissued an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus target price of $69.71.

Insider Activity

In other news, Director Rousset Sophie Zurquiyah sold 6,350 shares of TechnipFMC stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the completion of the transaction, the director owned 59,887 shares of the company’s stock, valued at $4,151,366.84. The trade was a 9.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

TechnipFMC 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.