Zions Bancorporation N.A. Purchases 6,286 Shares of TechnipFMC plc (NYSE:FTI)

Zions Bancorporation N.A. boosted its position in shares of TechnipFMC plc (NYSE:FTI) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 179,027 shares of the oil and gas company’s stock after buying an additional 6,286 shares during the period. Zions Bancorporation N.A.’s holdings in TechnipFMC were worth $5,181,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its position in shares of TechnipFMC by 23.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after acquiring an additional 679,748 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in TechnipFMC by 24.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company’s stock worth $634,000 after purchasing an additional 4,314 shares during the last quarter. Park Avenue Securities LLC bought a new stake in TechnipFMC during the fourth quarter worth $519,000. Westfield Capital Management Co. LP acquired a new stake in shares of TechnipFMC in the 3rd quarter valued at $49,273,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of TechnipFMC by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company’s stock valued at $105,618,000 after purchasing an additional 249,719 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. TD Cowen reaffirmed a “buy” rating and issued a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday, November 27th. Piper Sandler increased their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and lifted their price target for the company from $29.00 to $40.00 in a report on Friday, December 6th. Barclays increased their price objective on shares of TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a research note on Friday, December 13th. They set a “buy” rating and a $38.00 target price on the stock. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $36.31.

TechnipFMC Stock Performance

NYSE FTI opened at $29.86 on Tuesday. The company has a market capitalization of $12.56 billion, a price-to-earnings ratio of 19.64 and a beta of 1.54. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a twelve month low of $22.99 and a twelve month high of $33.45. The stock has a fifty day simple moving average of $29.69 and a 200 day simple moving average of $28.73.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 0.67%. TechnipFMC’s payout ratio is 10.42%.

Insider Transactions at TechnipFMC

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. This trade represents a 23.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the transaction, the chief accounting officer now directly owns 7,529 shares of the company’s stock, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.06% of the stock is owned by corporate insiders.

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.