FTI Consulting, Inc. $FCN Stock: Retirement Systems of Alabama Decreases Stake

Retirement Systems of Alabama decreased its position in FTI Consulting, Inc. (NYSE:FCN) by 5.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,889 shares of the business services provider’s stock after selling 2,695 shares during the quarter. Retirement Systems of Alabama’s holdings in FTI Consulting were worth $6,307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FCN. BlackRock Inc. bought a new stake in shares of FTI Consulting during the 2nd quarter valued at $408,202,000. Dimensional Fund Advisors LP increased its stake in shares of FTI Consulting by 6.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 921,218 shares of the business services provider’s stock worth $162,836,000 after acquiring an additional 59,524 shares in the last quarter. Quantinno Capital Management LP increased its stake in shares of FTI Consulting by 141.6% in the 1st quarter. Quantinno Capital Management LP now owns 256,490 shares of the business services provider’s stock worth $45,340,000 after acquiring an additional 150,348 shares in the last quarter. Neumeier Poma Investment Counsel LLC purchased a new position in FTI Consulting during the 2nd quarter valued at about $44,699,275. Finally, Bank of New York Mellon Corp lifted its position in FTI Consulting by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 209,668 shares of the business services provider’s stock valued at $37,063,000 after acquiring an additional 4,603 shares during the period. Hedge funds and other institutional investors own 99.36% of the company’s stock.

FTI Consulting Stock Up 2.0%

FCN stock traded up $3.99 during midday trading on Friday, hitting $202.61. The company’s stock had a trading volume of 318,591 shares, compared to its average volume of 490,925. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.64. FTI Consulting, Inc. has a 12 month low of $129.12 and a 12 month high of $203.69. The company has a market cap of $5.52 billion, a PE ratio of 25.26 and a beta of -0.15. The firm’s 50-day moving average is $156.04 and its 200-day moving average is $160.78.

FTI Consulting (NYSE:FCN) last released its quarterly earnings data on Thursday, October 29th. The business services provider reported $3.84 EPS for the quarter, topping the consensus estimate of $2.74 by $1.10. FTI Consulting had a return on equity of 18.41% and a net margin of 5.86%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $2.60 EPS. FTI Consulting’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities research analysts forecast that FTI Consulting, Inc. will post 9.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Weiss Ratings raised shares of FTI Consulting from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, October 26th. Truist Financial reaffirmed a “hold” rating and set a $180.00 target price (up from $158.00) on shares of FTI Consulting in a research note on Monday, November 2nd. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $174.50.

FTI Consulting Profile

FTI Consulting, Inc. is a global business advisory firm that helps organizations address financial, legal, operational, regulatory and reputational challenges. Founded in 1982, the company serves businesses, law firms, government agencies and other organizations. Its services span corporate finance and restructuring, forensic and litigation consulting, economic consulting, technology and strategic communications. Work may include advising on restructuring and transactions, investigating disputes and misconduct, providing expert analysis in legal matters, managing electronic evidence and supporting communications during significant events.