Prudential Financial Inc. boosted its stake in shares of FMC Technologies, Inc. (NYSE:FTI) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 400,849 shares of the company’s stock after buying an additional 35,795 shares during the period. Prudential Financial Inc. owned approximately 0.18% of FMC Technologies worth $10,690,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of FTI. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of FMC Technologies during the first quarter valued at about $315,000. Aviva PLC boosted its stake in shares of FMC Technologies by 1.2% in the first quarter. Aviva PLC now owns 116,675 shares of the company’s stock valued at $3,192,000 after buying an additional 1,421 shares during the period. Menta Capital LLC boosted its stake in shares of FMC Technologies by 174.7% in the first quarter. Menta Capital LLC now owns 122,500 shares of the company’s stock valued at $3,352,000 after buying an additional 77,900 shares during the period. NN Investment Partners Holdings N.V. bought a new stake in shares of FMC Technologies during the first quarter valued at about $3,446,000. Finally, Acrospire Investment Management LLC bought a new stake in shares of FMC Technologies during the first quarter valued at about $186,000. 89.63% of the stock is currently owned by institutional investors.
Shares of FMC Technologies, Inc. (NYSE:FTI) traded up 2.47% during midday trading on Wednesday, hitting $30.69. 943,816 shares of the stock traded hands. The company’s 50-day moving average is $28.20 and its 200 day moving average is $27.50. FMC Technologies, Inc. has a 52 week low of $22.30 and a 52 week high of $35.93. The firm has a market capitalization of $6.92 billion, a PE ratio of 43.91 and a beta of 1.14.
FMC Technologies (NYSE:FTI) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.08. The business earned $1.20 billion during the quarter, compared to analysts’ expectations of $1.26 billion. FMC Technologies had a return on equity of 13.44% and a net margin of 2.99%. FMC Technologies’s revenue for the quarter was down 32.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. Analysts anticipate that FMC Technologies, Inc. will post $0.92 earnings per share for the current year.
Several brokerages recently issued reports on FTI. Jefferies Group reiterated a “hold” rating on shares of FMC Technologies in a research note on Sunday, July 10th. Howard Weil cut their price target on FMC Technologies from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Monday, July 25th. FBR & Co reiterated a “hold” rating on shares of FMC Technologies in a research note on Wednesday, July 20th. Scotiabank reiterated a “sector outperform” rating and issued a $32.00 price target (down from $35.00) on shares of FMC Technologies in a research note on Tuesday, July 26th. Finally, Nomura set a $26.00 price target on FMC Technologies and gave the company a “hold” rating in a research note on Tuesday, August 16th. Fifteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $31.56.
In other FMC Technologies news, VP Sanjay Bhatia sold 2,800 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $28.44, for a total value of $79,632.00. Following the sale, the vice president now owns 48,943 shares in the company, valued at $1,391,938.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.86% of the stock is currently owned by company 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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