Canada Pension Plan Investment Board Buys New Position in McDermott International, Inc. (MDR)
Canada Pension Plan Investment Board bought a new stake in McDermott International, Inc. (NYSE:MDR) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 865,100 shares of the oil and gas company’s stock, valued at approximately $6,289,000. Canada Pension Plan Investment Board owned 0.30% of McDermott International as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. New York State Teachers Retirement System boosted its stake in McDermott International by 70.1% in the third quarter. New York State Teachers Retirement System now owns 198,562 shares of the oil and gas company’s stock valued at $1,444,000 after acquiring an additional 81,800 shares during the period. Crossmark Global Holdings Inc. acquired a new position in McDermott International in the third quarter valued at approximately $269,000. Aperio Group LLC boosted its stake in McDermott International by 16.7% in the third quarter. Aperio Group LLC now owns 104,896 shares of the oil and gas company’s stock valued at $763,000 after acquiring an additional 15,019 shares during the period. Boston Advisors LLC boosted its stake in McDermott International by 14.2% in the third quarter. Boston Advisors LLC now owns 750,595 shares of the oil and gas company’s stock valued at $5,457,000 after acquiring an additional 93,300 shares during the period. Finally, Meeder Asset Management Inc. boosted its stake in McDermott International by 234.0% in the third quarter. Meeder Asset Management Inc. now owns 16,144 shares of the oil and gas company’s stock valued at $117,000 after acquiring an additional 11,310 shares during the period. Institutional investors own 84.35% of the company’s stock.
A number of brokerages have commented on MDR. BidaskClub downgraded McDermott International from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Scotiabank reaffirmed a “buy” rating and set a $9.00 price target on shares of McDermott International in a report on Friday, July 28th. TheStreet raised McDermott International from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. KeyCorp reaffirmed a “hold” rating on shares of McDermott International in a report on Friday, August 25th. Finally, ValuEngine raised McDermott International from a “buy” rating to a “strong-buy” rating in a report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. McDermott International has an average rating of “Hold” and an average price target of $7.94.
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Shares of McDermott International, Inc. (NYSE MDR) opened at $7.50 on Tuesday. McDermott International, Inc. has a twelve month low of $5.56 and a twelve month high of $8.33. The company has a market capitalization of $2,169.83, a P/E ratio of 13.64 and a beta of 1.32. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.30.
McDermott International (NYSE:MDR) last announced its earnings results on Wednesday, November 1st. The oil and gas company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.14. McDermott International had a return on equity of 9.56% and a net margin of 5.25%. The firm had revenue of $958.50 million for the quarter, compared to analysts’ expectations of $977.28 million. During the same quarter in the previous year, the company earned $0.09 earnings per share. The firm’s quarterly revenue was up 71.6% compared to the same quarter last year. analysts expect that McDermott International, Inc. will post 0.52 EPS for the current year.
McDermott International Company Profile
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI), front-end engineering and design (FEED) and module fabrication services for upstream field developments across the world. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for offshore and subsea oil and gas projects.
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