Jefferies Group LLC reaffirmed their hold rating on shares of FMC Technologies, Inc. (NYSE:FTI) in a report released on Friday morning. The brokerage currently has a $31.00 price objective on the oil and gas company’s stock.
Several other equities research analysts also recently issued reports on FTI. Scotiabank set a $40.00 price target on shares of FMC Technologies and gave the stock a buy rating in a research note on Saturday, April 1st. Seaport Global Securities raised shares of FMC Technologies from a neutral rating to a buy rating and lifted their price target for the stock from $35.00 to $40.00 in a research note on Thursday, April 20th. ValuEngine raised shares of FMC Technologies from a hold rating to a buy rating in a research note on Saturday, July 8th. Cowen and Company reaffirmed a buy rating and set a $32.00 price target on shares of FMC Technologies in a research note on Tuesday, July 11th. Finally, Barclays PLC set a $33.00 price target on shares of FMC Technologies and gave the stock a hold rating in a research note on Saturday, May 6th. Two equities research 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 company presently has a consensus rating of Buy and an average target price of $34.60.
FMC Technologies (NYSE:FTI) remained flat at $27.81 during mid-day trading on Friday. The company’s stock had a trading volume of 1,655,971 shares. The company has a market capitalization of $12.97 billion, a P/E ratio of 16.68 and a beta of 0.92. FMC Technologies has a 1-year low of $26.25 and a 1-year high of $36.14. The firm has a 50 day moving average of $29.03 and a 200 day moving average of $32.11.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The correct version of this piece of content can be viewed at https://stocknewstimes.com/2017/07/18/jefferies-group-llc-reaffirms-hold-rating-for-fmc-technologies-inc-fti.html.
FMC Technologies announced that its board has approved a share repurchase program 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 repurchase up to 135% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
In other FMC Technologies news, 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 transaction of $384,000.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction 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. 0.86% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its stake in FMC Technologies by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the oil and gas company’s stock worth $786,000 after buying an additional 200 shares during the last quarter. LS Investment Advisors LLC increased its stake in FMC Technologies by 12.2% in the second quarter. LS Investment Advisors LLC now owns 15,223 shares of the oil and gas company’s stock worth $414,000 after buying an additional 1,659 shares during the last quarter. CWM LLC increased its stake in FMC Technologies by 7.2% in the second quarter. CWM LLC now owns 19,770 shares of the oil and gas company’s stock worth $538,000 after buying an additional 1,326 shares during the last quarter. Ardevora Asset Management LLP increased its stake in FMC Technologies by 34.8% in the second quarter. Ardevora Asset Management LLP now owns 1,134,200 shares of the oil and gas company’s stock worth $30,850,000 after buying an additional 292,500 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in FMC Technologies by 118.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 107,650 shares of the oil and gas company’s stock worth $2,928,000 after buying an additional 58,400 shares during the last quarter. Institutional investors own 64.15% 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.
Receive News & Ratings for FMC Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FMC Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
