Harbor Advisors LLC Has $1,088,000 Position in FMC Technologies, Inc. (FTI)
Harbor Advisors LLC maintained its stake in shares of FMC Technologies, Inc. (NYSE:FTI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,000 shares of the oil and gas company’s stock at the end of the second quarter. Harbor Advisors LLC’s holdings in FMC Technologies were worth $1,088,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. grew its holdings in FMC Technologies by 3,127.8% in the first quarter. BlackRock Inc. now owns 20,159,977 shares of the oil and gas company’s stock worth $655,198,000 after purchasing an additional 19,535,400 shares during the period. First Eagle Investment Management LLC increased its stake in FMC Technologies by 53.2% in the second quarter. First Eagle Investment Management LLC now owns 30,585,688 shares of the oil and gas company’s stock valued at $831,931,000 after purchasing an additional 10,617,891 shares in the last quarter. State Street Corp increased its stake in FMC Technologies by 48.1% in the first quarter. State Street Corp now owns 20,471,445 shares of the oil and gas company’s stock valued at $665,332,000 after purchasing an additional 6,648,002 shares in the last quarter. Vanguard Group Inc. increased its stake in FMC Technologies by 18.5% in the first quarter. Vanguard Group Inc. now owns 26,271,582 shares of the oil and gas company’s stock valued at $853,826,000 after purchasing an additional 4,105,582 shares in the last quarter. Finally, FMR LLC increased its stake in FMC Technologies by 138.2% in the first quarter. FMR LLC now owns 5,051,838 shares of the oil and gas company’s stock valued at $164,533,000 after purchasing an additional 2,931,043 shares in the last quarter. 65.35% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented on FTI shares. ValuEngine downgraded FMC Technologies from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Royal Bank Of Canada raised FMC Technologies from a “sector perform” rating to an “outperform” rating and set a $37.00 target price for the company in a research report on Friday, August 25th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $31.50 price target on shares of FMC Technologies in a research note on Tuesday, September 26th. 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, Scotiabank set a $36.00 price target on FMC Technologies and gave the stock a “buy” rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $34.62.
Shares of FMC Technologies, Inc. (FTI) traded up 1.16% during midday trading on Tuesday, reaching $27.98. 1,563,818 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $26.38 and a 200-day moving average of $28.89. FMC Technologies, Inc. has a 12-month low of $25.17 and a 12-month high of $37.09. The stock has a market capitalization of $13.07 billion, a P/E ratio of 33.83 and a beta of 0.95.
FMC Technologies (NYSE:FTI) last issued its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.08. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.80 billion. Analysts anticipate that FMC Technologies, Inc. will post $1.06 EPS for the current fiscal year.
FMC Technologies 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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