FMC Technologies, Inc. (FTI) Shares Sold by Kovitz Investment Group Partners LLC
Kovitz Investment Group Partners LLC lowered its position in shares of FMC Technologies, Inc. (NYSE:FTI) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 245,476 shares of the oil and gas company’s stock after selling 1,089 shares during the period. Kovitz Investment Group Partners LLC’s holdings in FMC Technologies were worth $6,677,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Perigon Wealth Management LLC raised its position in FMC Technologies by 19.7% in the first quarter. Perigon Wealth Management LLC now owns 5,017 shares of the oil and gas company’s stock valued at $163,000 after buying an additional 826 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in FMC Technologies during the first quarter valued at about $165,000. Macquarie Group Ltd. raised its position in FMC Technologies by 8.3% in the fourth quarter. Macquarie Group Ltd. now owns 5,200 shares of the oil and gas company’s stock valued at $185,000 after buying an additional 400 shares during the period. MAVEN SECURITIES Ltd acquired a new position in FMC Technologies during the first quarter valued at about $174,000. Finally, Johanson Financial Advisors Inc. acquired a new position in FMC Technologies during the first quarter valued at about $201,000. 64.70% of the stock is owned by institutional investors and hedge funds.
Shares of FMC Technologies, Inc. (FTI) opened at 27.15 on Wednesday. The stock’s 50 day moving average is $27.58 and its 200 day moving average is $30.77. FMC Technologies, Inc. has a 1-year low of $25.95 and a 1-year high of $37.09. The company has a market capitalization of $12.67 billion, a PE ratio of 32.83 and a beta of 0.92.
FMC Technologies (NYSE:FTI) last released its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.08. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.80 billion. On average, equities research analysts anticipate that FMC Technologies, Inc. will post $1.06 EPS for the current fiscal year.
FMC Technologies announced that its board has authorized a share buyback program on Wednesday, April 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 135% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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Several research firms recently issued reports on FTI. Barclays PLC set a $33.00 price target on shares of FMC Technologies and gave the stock a “hold” rating in a research report on Saturday, May 6th. UBS AG reissued a “buy” rating and issued a $36.00 price target (down previously from $40.00) on shares of FMC Technologies in a research report on Monday, July 31st. BidaskClub raised shares of FMC Technologies from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 1st. Seaport Global Securities reissued a “neutral” rating on shares of FMC Technologies in a research report on Thursday, July 27th. Finally, Scotiabank set a $36.00 price target on shares of FMC Technologies and gave the stock a “buy” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $34.78.
In related news, EVP Bradley D. Beitler sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $32.00, for a total transaction of $384,000.00. Following the completion of the transaction, the executive vice president now directly owns 87,886 shares in the company, valued at approximately $2,812,352. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Maryann T. Mannen sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $29.20, for a total transaction of $189,800.00. Following the transaction, the chief financial officer now owns 309,261 shares of the company’s stock, valued at $9,030,421.20. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.
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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