TechnipFMC plc (NYSE:FTI) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of TechnipFMC plc (NYSE:FTI) by 2.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,494 shares of the oil and gas company’s stock after selling 2,429 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TechnipFMC were worth $2,492,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in TechnipFMC during the third quarter worth $2,624,000. Qsemble Capital Management LP grew its holdings in TechnipFMC by 136.3% during the third quarter. Qsemble Capital Management LP now owns 28,690 shares of the oil and gas company’s stock worth $753,000 after acquiring an additional 16,550 shares during the period. Bank of Montreal Can boosted its position in TechnipFMC by 1,630.7% during the third quarter. Bank of Montreal Can now owns 287,454 shares of the oil and gas company’s stock worth $7,347,000 after purchasing an additional 270,845 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in TechnipFMC by 216.3% during the third quarter. Loomis Sayles & Co. L P now owns 18,905 shares of the oil and gas company’s stock worth $496,000 after purchasing an additional 12,928 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in TechnipFMC by 0.3% during the third quarter. Fisher Asset Management LLC now owns 533,607 shares of the oil and gas company’s stock worth $13,997,000 after purchasing an additional 1,747 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Performance

Shares of NYSE:FTI opened at $31.52 on Wednesday. The firm has a market capitalization of $13.41 billion, a PE ratio of 20.74 and a beta of 1.54. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The business has a 50-day moving average of $27.69 and a two-hundred day moving average of $26.66. TechnipFMC plc has a 12 month low of $18.33 and a 12 month high of $31.76.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the firm posted $0.21 earnings per share. The firm’s revenue was up 14.2% on a year-over-year basis. As a group, research analysts forecast that TechnipFMC plc will post 1.58 earnings per share for the current year.

TechnipFMC announced that its board has initiated a share repurchase plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.63%. TechnipFMC’s dividend payout ratio (DPR) is currently 13.16%.

Wall Street Analyst Weigh In

FTI has been the topic of a number of research analyst reports. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Barclays upped their price objective on TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Citigroup upped their price objective on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. TD Cowen restated a “buy” rating and issued a $37.00 price objective on shares of TechnipFMC in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada assumed coverage on TechnipFMC in a research report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price objective on the stock. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC currently has an average rating of “Buy” and an average price target of $33.91.

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.