Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 9.10MM shares of FMC Technologies, Inc. (FTI). This represents 2.04% of the company.
In their previous filing dated February 10, 2022 they reported 23.52MM shares and 5.22% of the company, a decrease in shares of 61.32% and a decrease in total ownership of 3.18% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 6.35% Upside
As of February 9, 2023, the average one-year price target for FMC Technologies is $14.80. The forecasts range from a low of $8.58 to a high of $17.85. The average price target represents an increase of 6.35% from its latest reported closing price of $13.92.
The projected annual revenue for FMC Technologies is $7,468MM, an increase of 14.38%. The projected annual EPS is $0.52.
What is the Fund Sentiment?
There are 503 funds or institutions reporting positions in FMC Technologies. This is an increase of 37 owner(s) or 7.94% in the last quarter. Average portfolio weight of all funds dedicated to FTI is 0.41%, an increase of 27.24%. Total shares owned by institutions increased in the last three months by 4.51% to 531,230K shares. The put/call ratio of FTI is 0.30, indicating a bullish outlook.
What are large shareholders doing?
Price T Rowe Associates holds 53,044K shares representing 11.88% ownership of the company. In it's prior filing, the firm reported owning 64,763K shares, representing a decrease of 22.09%. The firm increased its portfolio allocation in FTI by 33.50% over the last quarter.
TRMCX - T. Rowe Price Mid-Cap Value Fund holds 28,424K shares representing 6.37% ownership of the company. In it's prior filing, the firm reported owning 30,188K shares, representing a decrease of 6.21%. The firm increased its portfolio allocation in FTI by 29.42% over the last quarter.
Ameriprise Financial holds 21,235K shares representing 4.76% ownership of the company. In it's prior filing, the firm reported owning 23,800K shares, representing a decrease of 12.08%. The firm decreased its portfolio allocation in FTI by 78.20% over the last quarter.
William Blair Investment Management holds 20,699K shares representing 4.64% ownership of the company. In it's prior filing, the firm reported owning 6,074K shares, representing an increase of 70.65%. The firm increased its portfolio allocation in FTI by 356.84% over the last quarter.
Franklin Resources holds 20,349K shares representing 4.56% ownership of the company. In it's prior filing, the firm reported owning 19,389K shares, representing an increase of 4.72%. The firm increased its portfolio allocation in FTI by 44.97% over the last quarter.
FMC Technologies Declares $0.13 Dividend
On February 25, 2020 the company declared a regular quarterly dividend of $0.13 per share ($0.52 annualized). Shareholders of record as of March 23, 2020 received the payment on April 8, 2020. Previously, the company paid $0.13 per share.
At the current share price of $13.92 / share, the stock's dividend yield is 3.74%. Looking back five years and taking a sample every week, the average dividend yield has been 2.45%, the lowest has been 1.09%, and the highest has been 9.08%. The standard deviation of yields is 1.56 (n=195).
The current dividend yield is 0.82 standard deviations above the historical average.
TechnipFMC Background Information
(This description is provided by the company.)
With approximately 21,000 employees, TechnipFMC would be the largest diversified pure play in the industry. The Company's role will be to support clients in the delivery of unique, integrated production solutions. TechnipFMC will continue to transform the industry through its pioneering integrated delivery model - iEPCI™, technology leadership and digital innovation.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
