Wedge Capital Management L L P NC cut its stake in shares of FMC Technologies, Inc. (NYSE:FTI) by 34.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 982,584 shares of the oil and gas company’s stock after selling 512,210 shares during the period. Wedge Capital Management L L P NC’s holdings in FMC Technologies were worth $26,726,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FTI. Macquarie Group Ltd. boosted its stake 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 last quarter. Exxonmobil Investment Management Inc. TX boosted its stake in FMC Technologies by 98.3% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 103,614 shares of the oil and gas company’s stock valued at $3,367,000 after buying an additional 51,372 shares during the last quarter. Capstone Asset Management Co. boosted its stake in FMC Technologies by 25.7% in the first quarter. Capstone Asset Management Co. now owns 20,422 shares of the oil and gas company’s stock valued at $664,000 after buying an additional 4,170 shares during the last quarter. CWM LLC boosted its stake in FMC Technologies by 7.6% in the first quarter. CWM LLC now owns 18,444 shares of the oil and gas company’s stock valued at $599,000 after buying an additional 1,309 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in FMC Technologies by 102.1% in the first quarter. Louisiana State Employees Retirement System now owns 28,700 shares of the oil and gas company’s stock valued at $933,000 after buying an additional 14,500 shares during the last quarter. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

FMC Technologies, Inc. (NYSE:FTI) opened at 26.42 on Friday. FMC Technologies, Inc. has a 52-week low of $26.25 and a 52-week high of $37.09. The company has a market capitalization of $12.33 billion, a price-to-earnings ratio of 31.95 and a beta of 0.92. The company’s 50-day moving average price is $27.59 and its 200 day moving average price is $30.50.

FMC Technologies (NYSE:FTI) last issued its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.80 billion. On average, equities analysts expect that FMC Technologies, Inc. will post $1.06 EPS for the current fiscal year.

FMC Technologies announced that its Board of Directors has initiated a share repurchase plan on Wednesday, April 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 135% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

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Several analysts have weighed in on FTI shares. Seaport Global Securities raised FMC Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $35.00 to $40.00 in a report on Thursday, April 20th. Scotiabank set a $37.00 price objective on FMC Technologies and gave the company a “buy” rating in a report on Monday, May 1st. Barclays PLC set a $33.00 price objective on FMC Technologies and gave the company a “hold” rating in a report on Saturday, May 6th. Sanford C. Bernstein raised FMC Technologies from an “underperform” rating to a “market perform” rating and set a $29.00 price objective on the stock in a report on Tuesday, May 16th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $37.00 price objective on shares of FMC Technologies in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. FMC Technologies presently has an average rating of “Hold” and a consensus price target of $34.78.

In other FMC Technologies news, EVP Bradley D. Beitler sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $32.00, for a total transaction of $384,000.00. Following the sale, the executive vice president now directly owns 87,886 shares in the company, valued at $2,812,352. The sale was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $29.20, for a total value of $189,800.00. Following the sale, the chief financial officer now owns 309,261 shares in the company, valued at $9,030,421.20. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

FMC Technologies Company Profile

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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