Independent Portfolio Consultants Inc. cut its position in shares of FMC Technologies Inc. (NYSE:FTI) by 35.6% during the third quarter, Holdings Channel reports. The firm owned 4,410 shares of the company’s stock after selling 2,435 shares during the period. Independent Portfolio Consultants Inc.’s holdings in FMC Technologies were worth $131,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in FTI. Hartford Investment Management Co. raised its stake in FMC Technologies by 6.4% in the second quarter. Hartford Investment Management Co. now owns 58,562 shares of the company’s stock worth $1,562,000 after buying an additional 3,520 shares during the period. First Quadrant L P CA raised its stake in FMC Technologies by 2.6% in the second quarter. First Quadrant L P CA now owns 782,200 shares of the company’s stock worth $20,861,000 after buying an additional 19,900 shares during the period. Nikko Asset Management Americas Inc. raised its stake in FMC Technologies by 35.9% in the second quarter. Nikko Asset Management Americas Inc. now owns 220,832 shares of the company’s stock worth $5,711,000 after buying an additional 58,300 shares during the period. Nordea Investment Management AB raised its stake in FMC Technologies by 91.9% in the second quarter. Nordea Investment Management AB now owns 16,206 shares of the company’s stock worth $432,000 after buying an additional 7,760 shares during the period. Finally, Davis R M Inc. raised its stake in FMC Technologies by 1.9% in the second quarter. Davis R M Inc. now owns 51,113 shares of the company’s stock worth $1,363,000 after buying an additional 958 shares during the period. 88.38% of the stock is currently owned by hedge funds and other institutional investors.
FMC Technologies Inc. (NYSE:FTI) traded down 2.10% on Friday, reaching $33.98. The company’s stock had a trading volume of 1,646,210 shares. FMC Technologies Inc. has a 52-week low of $22.30 and a 52-week high of $35.74. The firm’s 50-day moving average price is $32.96 and its 200-day moving average price is $28.74. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 73.55 and a beta of 0.92.
FMC Technologies (NYSE:FTI) last issued its earnings results on Wednesday, October 19th. The company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.12. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.16 billion. FMC Technologies had a return on equity of 10.93% and a net margin of 2.25%. The company’s revenue was down 29.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 EPS. On average, equities analysts expect that FMC Technologies Inc. will post $1.06 earnings per share for the current year.
A number of analysts have issued reports on the company. Griffin Securities raised FMC Technologies from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Wednesday. Jefferies Group set a $33.00 target price on FMC Technologies and gave the company a “hold” rating in a report on Monday, October 24th. JPMorgan Chase & Co. reissued a “hold” rating and set a $31.00 price objective on shares of FMC Technologies in a report on Thursday, November 3rd. Capital One Financial Corp. raised FMC Technologies from an “equal weight” rating to an “overweight” rating and set a $36.00 price objective on the stock in a report on Thursday, August 25th. Finally, Seaport Global Securities lowered FMC Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $29.00 to $28.00 in a report on Thursday, September 22nd. Fifteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $32.34.
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.