California Public Employees Retirement System Boosts Holdings in FTI Consulting, Inc. (NYSE:FCN)

Posted by Defense World Staff on May 11th, 2023

California Public Employees Retirement System increased its position in FTI Consulting, Inc. (NYSE:FCN – Get Rating) by 11.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 175,366 shares of the business services provider’s stock after buying an additional 18,631 shares during the quarter. California Public Employees Retirement System owned 0.51% of FTI Consulting worth $27,848,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in FCN. Alliancebernstein L.P. boosted its holdings in FTI Consulting by 416.7% in the third quarter. Alliancebernstein L.P. now owns 271,353 shares of the business services provider’s stock valued at $44,966,000 after acquiring an additional 218,837 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in FTI Consulting by 91.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 431,141 shares of the business services provider’s stock worth $68,465,000 after purchasing an additional 206,326 shares in the last quarter. Axiom Investors LLC DE boosted its holdings in shares of FTI Consulting by 169.3% during the 3rd quarter. Axiom Investors LLC DE now owns 281,165 shares of the business services provider’s stock valued at $46,592,000 after acquiring an additional 176,769 shares during the last quarter. Boston Partners grew its stake in shares of FTI Consulting by 104.5% in the third quarter. Boston Partners now owns 276,157 shares of the business services provider’s stock worth $45,358,000 after acquiring an additional 141,107 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC bought a new stake in FTI Consulting during the third quarter valued at approximately $9,142,000.

FTI Consulting Trading Down 0.1 %

FCN stock opened at $177.03 on Thursday. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 0.21. FTI Consulting, Inc. has a twelve month low of $140.09 and a twelve month high of $205.63. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 28.32 and a beta of 0.28. The firm’s fifty day simple moving average is $191.87 and its two-hundred day simple moving average is $173.65.

FTI Consulting (NYSE:FCN – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The business services provider reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.33). FTI Consulting had a return on equity of 13.81% and a net margin of 7.19%. The company had revenue of $806.71 million during the quarter, compared to the consensus estimate of $795.44 million. During the same quarter in the previous year, the company posted $1.66 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, analysts anticipate that FTI Consulting, Inc. will post 7.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FCN. Truist Financial boosted their target price on shares of FTI Consulting from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, March 13th. StockNews.com downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating in a research note on Saturday, March 18th.

Insider Buying and Selling at FTI Consulting

In related news, Director Vernon James Ellis sold 2,000 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $187.77, for a total value of $375,540.00. Following the completion of the transaction, the director now directly owns 26,927 shares of the company’s stock, valued at approximately $5,056,082.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Steven Henry Gunby sold 14,576 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $185.03, for a total transaction of $2,696,997.28. Following the sale, the chief executive officer now owns 514,481 shares of the company’s stock, valued at approximately $95,194,419.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vernon James Ellis sold 2,000 shares of FTI Consulting stock in a transaction on Monday, February 27th. The shares were sold at an average price of $187.77, for a total transaction of $375,540.00. Following the completion of the sale, the director now directly owns 26,927 shares in the company, valued at approximately $5,056,082.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,187 shares of company stock valued at $12,795,055. 3.46% of the stock is currently owned by insiders.

FTI Consulting Company Profile

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FTI Consulting, Inc engages in the provision of financial, legal, operational, political and regulatory, reputational and transactional advisory services. It operates through the following segments: Corporate Finance and Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications.