FTI Consulting, Inc. (FCN) Stake Raised by California Public Employees Retirement System

California Public Employees Retirement System grew its position in FTI Consulting, Inc. (NYSE:FCN) by 9.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 122,535 shares of the business services provider’s stock after acquiring an additional 10,643 shares during the quarter. California Public Employees Retirement System’s holdings in FTI Consulting were worth $4,348,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in FCN. Schwab Charles Investment Management Inc. raised its stake in shares of FTI Consulting by 4.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 309,445 shares of the business services provider’s stock valued at $10,819,000 after acquiring an additional 13,352 shares during the period. Legal & General Group Plc raised its stake in shares of FTI Consulting by 11.7% in the second quarter. Legal & General Group Plc now owns 60,299 shares of the business services provider’s stock valued at $2,106,000 after acquiring an additional 6,331 shares during the period. Comerica Bank raised its stake in shares of FTI Consulting by 0.8% in the second quarter. Comerica Bank now owns 32,062 shares of the business services provider’s stock valued at $1,061,000 after acquiring an additional 270 shares during the period. Prudential Financial Inc. raised its stake in shares of FTI Consulting by 70.3% in the second quarter. Prudential Financial Inc. now owns 70,897 shares of the business services provider’s stock valued at $2,479,000 after acquiring an additional 29,270 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of FTI Consulting by 3.6% in the second quarter. Principal Financial Group Inc. now owns 176,382 shares of the business services provider’s stock valued at $6,166,000 after acquiring an additional 6,186 shares during the period. 97.19% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. TheStreet raised shares of FTI Consulting from a “c” rating to a “b” rating in a research note on Thursday, October 26th.

Shares of FTI Consulting, Inc. (FCN) opened at $42.93 on Thursday. The firm has a market cap of $1,640.00, a price-to-earnings ratio of 34.90 and a beta of 0.34. FTI Consulting, Inc. has a 12 month low of $31.65 and a 12 month high of $45.27. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.41.

FTI Consulting (NYSE:FCN) last posted its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.24. The company had revenue of $448.96 million for the quarter, compared to the consensus estimate of $446.63 million. FTI Consulting had a net margin of 2.70% and a return on equity of 6.12%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 EPS. sell-side analysts expect that FTI Consulting, Inc. will post 2.06 EPS for the current year.

FTI Consulting declared that its board has approved a stock buyback program on Monday, December 4th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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FTI Consulting Profile

FTI Consulting, Inc is a business advisory company. The Company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications. The Company provides advice and services, such as restructuring (including bankruptcy), capital formation and indebtedness, interim business management, performance improvements, forensic accounting and litigation matters, international arbitrations, mergers and acquisitions (M&A), antitrust and competition matters, securities litigation, electronic discovery (or e-discovery), management and retrieval of electronically stored information (ESI), reputation management and strategic communications.

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Institutional Ownership by Quarter for FTI Consulting (NYSE:FCN)

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