Zurcher Kantonalbank Zurich Cantonalbank Purchases 17,084 Shares of TechnipFMC plc (NYSE:FTI)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of TechnipFMC plc (NYSE:FTI) by 17.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,578 shares of the oil and gas company’s stock after acquiring an additional 17,084 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TechnipFMC were worth $3,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Assetmark Inc. acquired a new stake in TechnipFMC during the 3rd quarter worth approximately $265,000. Sigma Planning Corp raised its holdings in shares of TechnipFMC by 32.6% during the third quarter. Sigma Planning Corp now owns 11,164 shares of the oil and gas company’s stock worth $293,000 after acquiring an additional 2,743 shares during the period. Versor Investments LP bought a new stake in TechnipFMC in the 3rd quarter valued at $304,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in TechnipFMC by 971.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock worth $10,692,000 after purchasing an additional 369,594 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of TechnipFMC by 15.7% in the 3rd quarter. KBC Group NV now owns 12,485 shares of the oil and gas company’s stock valued at $327,000 after purchasing an additional 1,692 shares during the period. Institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. TD Cowen reiterated a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a report on Wednesday, November 27th. Evercore ISI upped their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and lifted their price objective for the company from $29.00 to $40.00 in a report on Friday, December 6th. Royal Bank of Canada began coverage on shares of TechnipFMC in a report on Monday, November 18th. They set an “outperform” rating and a $37.00 target price for the company. Finally, Barclays raised their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $36.31.

TechnipFMC Stock Up 2.8 %

TechnipFMC stock opened at $27.25 on Friday. TechnipFMC plc has a fifty-two week low of $22.99 and a fifty-two week high of $33.45. The firm has a market capitalization of $11.46 billion, a PE ratio of 17.92 and a beta of 1.54. The company’s 50-day moving average is $30.07 and its 200-day moving average is $28.60. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 annualized dividend and a yield of 0.73%. TechnipFMC’s dividend payout ratio is 10.42%.

Insider Activity

In other TechnipFMC news, CAO David Light sold 10,147 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the transaction, the chief accounting officer now directly owns 7,529 shares of the company’s stock, valued at $187,472.10. This represents a 57.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the sale, the executive vice president now owns 140,207 shares of the company’s stock, valued at $3,722,495.85. This trade represents a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.

TechnipFMC 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.