Teachers Retirement System of The State of Kentucky maintained its stake in FMC Technologies, Inc. (NYSE:FTI) during the first quarter, Holdings Channel reports. The fund owned 27,300 shares of the oil and gas company’s stock at the end of the first quarter. Teachers Retirement System of The State of Kentucky’s holdings in FMC Technologies were worth $887,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Bank of Nova Scotia bought a new stake in FMC Technologies during the first quarter worth approximately $354,000. Point72 Asset Management L.P. bought a new stake in FMC Technologies during the first quarter worth approximately $45,550,000. Janus Capital Management LLC boosted its stake in FMC Technologies by 2,007.6% in the first quarter. Janus Capital Management LLC now owns 1,324,847 shares of the oil and gas company’s stock worth $43,058,000 after buying an additional 1,261,987 shares in the last quarter. Platinum Investment Management Ltd. boosted its stake in FMC Technologies by 14.7% in the first quarter. Platinum Investment Management Ltd. now owns 5,411,700 shares of the oil and gas company’s stock worth $175,880,000 after buying an additional 692,800 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its stake in FMC Technologies by 6.5% in the first quarter. Kovitz Investment Group Partners LLC now owns 246,565 shares of the oil and gas company’s stock worth $8,013,000 after buying an additional 15,037 shares in the last quarter. 64.15% of the stock is currently owned by hedge funds and other institutional investors.

FMC Technologies, Inc. (NYSE:FTI) opened at 28.42 on Friday. FMC Technologies, Inc. has a 1-year low of $26.25 and a 1-year high of $36.14. The stock has a 50 day moving average price of $27.77 and a 200 day moving average price of $31.34. The company has a market cap of $13.26 billion, a P/E ratio of 17.05 and a beta of 0.92.

FMC Technologies declared that its Board of Directors has initiated a stock buyback plan on Wednesday, April 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the oil and gas company to buy up to 135% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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A number of research analysts have recently issued reports on the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $31.00 price target on shares of FMC Technologies in a report on Friday, July 14th. Sanford C. Bernstein downgraded FMC Technologies from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $39.00 to $22.00 in a report on Thursday, July 13th. Cowen and Company reaffirmed a “buy” rating and set a $32.00 price target on shares of FMC Technologies in a report on Tuesday, July 11th. ValuEngine raised FMC Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $43.00 price target (down from $45.00) on shares of FMC Technologies in a report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $34.60.

In other news, CFO Maryann T. Mannen sold 6,500 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $29.20, for a total value of $189,800.00. Following the completion of the transaction, the chief financial officer now owns 309,261 shares of the company’s stock, valued at approximately $9,030,421.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Bradley D. Beitler sold 12,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $32.00, for a total value of $384,000.00. Following the completion of the transaction, the executive vice president now directly owns 87,886 shares of the company’s stock, valued at approximately $2,812,352. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

About FMC Technologies

FMC Technologies, Inc is a global provider of technology solutions for the energy industry. The Company designs, manufactures and services a range of systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems.

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Institutional Ownership by Quarter for FMC Technologies (NYSE:FTI)

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