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

Zions Bancorporation N.A. raised its stake in TechnipFMC plc (NYSE:FTI) by 3.6% in the 4th quarter, HoldingsChannel reports. The firm owned 179,027 shares of the oil and gas company’s stock after acquiring an additional 6,286 shares during the quarter. Zions Bancorporation N.A.’s holdings in TechnipFMC were worth $5,181,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Westfield Capital Management Co. LP acquired a new stake in TechnipFMC in the third quarter valued at approximately $49,273,000. Vanguard Group Inc. lifted its holdings in shares of TechnipFMC by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company’s stock worth $1,180,576,000 after purchasing an additional 1,623,864 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in TechnipFMC by 50.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company’s stock valued at $66,842,000 after purchasing an additional 773,000 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in TechnipFMC by 68.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock valued at $44,454,000 after purchasing an additional 688,622 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in 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 valued at $98,838,000 after purchasing an additional 679,748 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FTI shares. Barclays lifted their price objective on shares of TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. TD Cowen reiterated a “buy” rating and set a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. Piper Sandler boosted their price objective on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and raised their target price for the company from $29.00 to $40.00 in a report on Friday, December 6th. Finally, Evercore ISI upped their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $36.31.

Insider Activity

In related news, EVP Justin Rounce sold 42,178 shares of the company’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 value of $1,119,825.90. Following the transaction, the executive vice president now owns 140,207 shares in the company, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David Light sold 10,147 shares of the firm’s stock in a transaction on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.

TechnipFMC Price Performance

FTI opened at $29.86 on Tuesday. TechnipFMC plc has a fifty-two week low of $22.99 and a fifty-two week high of $33.45. The firm has a 50-day moving average of $29.69 and a 200 day moving average of $28.73. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The firm has a market cap of $12.56 billion, a P/E ratio of 19.64 and a beta of 1.54.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s dividend payout ratio is currently 10.42%.

TechnipFMC Company 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.