FMC Technologies, Inc. (NYSE:FTI) Given Average Rating of “Buy” by Analysts
Shares of FMC Technologies, Inc. (NYSE:FTI) have received an average rating of “Buy” from the twenty-three analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $34.60.
Several brokerages recently commented on FTI. Barclays PLC set a $33.00 price objective on shares of FMC Technologies and gave the company a “hold” rating in a research report on Saturday, May 6th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $31.00 price objective on shares of FMC Technologies in a research report on Friday, July 14th. Scotiabank set a $40.00 price objective on shares of FMC Technologies and gave the company a “buy” rating in a research report on Saturday, April 1st. Sanford C. Bernstein lowered shares of FMC Technologies from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $39.00 to $22.00 in a research report on Thursday, July 13th. Finally, Cowen and Company reissued a “buy” rating and set a $32.00 price target on shares of FMC Technologies in a research report on Tuesday, July 11th.
FMC Technologies (NYSE FTI) traded up 0.36% on Monday, hitting $27.99. 1,158,675 shares of the stock traded hands. The firm 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 capitalization of $13.06 billion, a PE ratio of 16.79 and a beta of 0.92. FMC Technologies has a 12 month low of $26.25 and a 12 month high of $36.14.
FMC Technologies announced that its board has initiated a share repurchase plan on Wednesday, April 26th that authorizes the company to repurchase $500.00 million in outstanding 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 generally a sign that the company’s board believes its shares are undervalued.
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In related news, EVP Bradley D. Beitler sold 12,000 shares of FMC Technologies stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $32.00, for a total value of $384,000.00. Following the sale, the executive vice president now owns 87,886 shares of the company’s stock, valued at approximately $2,812,352. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Maryann T. Mannen sold 6,500 shares of FMC Technologies stock in a transaction on Monday, June 5th. The shares were sold at an average price of $29.20, for a total transaction of $189,800.00. Following the completion of the sale, the chief financial officer now directly owns 309,261 shares in the company, valued at approximately $9,030,421.20. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Perigon Wealth Management LLC boosted its stake 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 worth $163,000 after buying an additional 826 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in FMC Technologies during the first quarter worth about $165,000. MAVEN SECURITIES Ltd bought a new stake in FMC Technologies during the first quarter worth about $174,000. 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 worth $185,000 after buying an additional 400 shares in the last quarter. Finally, Johanson Financial Advisors Inc. bought a new stake in FMC Technologies during the first quarter worth about $201,000. 64.20% of the stock is currently owned by hedge funds and other institutional investors.
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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