Zurcher Kantonalbank Zurich Cantonalbank Grows Position in TechnipFMC plc (NYSE:FTI)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in TechnipFMC plc (NYSE:FTI - Free Report) by 17.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 112,578 shares of the oil and gas company's stock after purchasing an additional 17,084 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in TechnipFMC were worth $3,152,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in TechnipFMC by 55.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after buying an additional 525 shares during the period. Compagnie Lombard Odier SCmA purchased a new stake in shares of TechnipFMC in the 4th quarter valued at $45,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of TechnipFMC in the fourth quarter worth $46,000. V Square Quantitative Management LLC raised its holdings in shares of TechnipFMC by 48.2% during the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock worth $50,000 after purchasing an additional 563 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in TechnipFMC during the third quarter valued at $57,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at TechnipFMC

In related news, EVP Justin Rounce sold 42,178 shares of the 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 completion of the sale, the executive vice president now owns 140,207 shares of the company's stock, valued at approximately $3,722,495.85. This trade 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 can be accessed through this link. Also, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 7,529 shares in the company, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company's stock.

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Analyst Ratings Changes

Several brokerages have weighed in on FTI. Barclays increased their price target on TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a research 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 report on Wednesday, November 27th. The Goldman Sachs Group began coverage on TechnipFMC in a report on Friday, December 13th. They issued a "buy" rating and a $38.00 price target for the company. Jefferies Financial Group raised shares of TechnipFMC from a "hold" rating to a "buy" rating and raised their price objective for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. Finally, Piper Sandler lifted their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. 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 company. According to data from MarketBeat.com, TechnipFMC has a consensus rating of "Buy" and an average target price of $36.31.

TechnipFMC Price Performance

Shares of NYSE FTI traded up $0.69 during trading on Wednesday, hitting $28.80. The company had a trading volume of 3,005,090 shares, compared to its average volume of 4,219,716. TechnipFMC plc has a fifty-two week low of $22.99 and a fifty-two week high of $33.45. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $29.92 and a two-hundred day simple moving average of $28.63. The firm has a market capitalization of $12.11 billion, a price-to-earnings ratio of 18.95 and a beta of 1.54.

TechnipFMC Announces Dividend

The company 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 $0.05 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.69%. TechnipFMC's dividend payout ratio (DPR) is presently 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.