Zions Bancorporation National Association UT Purchases New Shares in TechnipFMC plc (NYSE:FTI)

Key Points

• Zions Bancorporation National Association UT has acquired 171,253 shares of TechnipFMC plc, valued at approximately $5.4 million, indicating strong institutional interest in the company.
• TechnipFMC reported earnings of $0.68 per share in its latest quarter, outperforming the consensus estimate of $0.57, with a 9% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.05 per share, with a payout ratio of 9.43%, set to be paid on September 3rd to shareholders of record on August 19th.

Zions Bancorporation National Association UT bought a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 171,253 shares of the oil and gas company's stock, valued at approximately $5,427,000.

Other hedge funds also recently made changes to their positions in the company. Diversify Advisory Services LLC lifted its holdings in shares of TechnipFMC by 5.1% during the first quarter. Diversify Advisory Services LLC now owns 7,506 shares of the oil and gas company's stock worth $238,000 after purchasing an additional 362 shares during the period. Acuitas Investments LLC increased its position in shares of TechnipFMC by 13.4% during the first quarter. Acuitas Investments LLC now owns 3,394 shares of the oil and gas company's stock worth $108,000 after acquiring an additional 400 shares in the last quarter. KBC Group NV increased its position in shares of TechnipFMC by 2.4% during the first quarter. KBC Group NV now owns 18,129 shares of the oil and gas company's stock worth $575,000 after acquiring an additional 429 shares in the last quarter. GAMMA Investing LLC grew its position in TechnipFMC by 27.0% in the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock worth $91,000 after purchasing an additional 614 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC grew its position in TechnipFMC by 7.7% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 9,238 shares of the oil and gas company's stock worth $293,000 after purchasing an additional 657 shares in the last quarter. 96.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $37.12, for a total transaction of $348,222.72. Following the completion of the sale, the director directly owned 62,978 shares in the company, valued at approximately $2,337,743.36. The trade was a 12.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company's stock.

TechnipFMC Trading Up 0.1%

Shares of NYSE:FTI traded up $0.03 on Monday, hitting $34.98. The company had a trading volume of 2,295,305 shares, compared to its average volume of 4,587,777. The firm's 50-day simple moving average is $34.47 and its two-hundred day simple moving average is $30.80. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $38.05. The company has a quick ratio of 0.86, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $14.38 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 1.15 and a beta of 1.04.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.11. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The company had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same period last year, the company posted $0.43 EPS. TechnipFMC's revenue was up 9.0% on a year-over-year basis. Equities analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, August 19th. TechnipFMC's dividend payout ratio (DPR) is currently 9.43%.

Analysts Set New Price Targets

A number of research analysts have weighed in on FTI shares. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Sanford C. Bernstein cut shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a research note on Thursday, May 22nd. Susquehanna increased their target price on shares of TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Evercore ISI increased their target price on shares of TechnipFMC from $42.00 to $46.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Citigroup reissued a "buy" rating and issued a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, TechnipFMC has an average rating of "Moderate Buy" and an average price target of $38.92.

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.