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% in the third quarter, Holdings Channel.com reports. 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.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after buying an additional 735 shares during the last quarter. ORG Wealth Partners LLC bought a new position in TechnipFMC during the 3rd quarter worth approximately $30,000. GAMMA Investing LLC lifted its holdings in TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after buying an additional 492 shares during the last quarter. ORG Partners LLC bought a new position in TechnipFMC during the 2nd quarter worth approximately $33,000. Finally, Crewe Advisors LLC bought a new position in TechnipFMC during the 2nd quarter worth approximately $51,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Up 0.7 %

Shares of FTI stock opened at $31.52 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC plc has a 1 year low of $18.33 and a 1 year high of $31.76. The stock has a fifty day moving average of $27.69 and a two-hundred day moving average of $26.66. The firm has a market capitalization of $13.41 billion, a PE ratio of 20.74 and a beta of 1.54.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm posted $0.21 EPS. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. As a group, research analysts expect that TechnipFMC plc will post 1.58 EPS for the current year.

TechnipFMC announced that its board has approved a share buyback program on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

TechnipFMC Announces Dividend

The company also recently disclosed 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC’s dividend payout ratio is presently 13.16%.

Wall Street Analyst Weigh In

A number of research analysts have commented on FTI shares. Royal Bank of Canada started coverage on TechnipFMC in a report on Monday, November 18th. They set an “outperform” rating and a $37.00 target price on the stock. BMO Capital Markets boosted their price objective on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. Citigroup boosted 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. Susquehanna boosted their price objective on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th. Finally, Barclays boosted 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. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, TechnipFMC has a consensus rating of “Buy” and an average target price 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.