FIL Ltd Sells 49,197 Shares of FTI Consulting, Inc. (NYSE:FCN)

FIL Ltd lessened its position in FTI Consulting, Inc. (NYSE:FCN) by 15.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 261,638 shares of the business services provider’s stock after selling 49,197 shares during the period. FIL Ltd owned 0.73% of FTI Consulting worth $50,007,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Mawer Investment Management Ltd. grew its holdings in FTI Consulting by 3.8% in the 4th quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider’s stock worth $777,060,000 after acquiring an additional 149,276 shares during the last quarter. Vanguard Group Inc. grew its holdings in FTI Consulting by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 3,564,322 shares of the business services provider’s stock worth $681,249,000 after acquiring an additional 23,419 shares during the last quarter. State Street Corp boosted its stake in shares of FTI Consulting by 2.7% during the 3rd quarter. State Street Corp now owns 1,061,341 shares of the business services provider’s stock valued at $241,519,000 after purchasing an additional 28,105 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of FTI Consulting by 9.3% during the 4th quarter. Alliancebernstein L.P. now owns 740,858 shares of the business services provider’s stock valued at $141,600,000 after purchasing an additional 63,163 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of FTI Consulting by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 685,762 shares of the business services provider’s stock valued at $157,528,000 after purchasing an additional 16,171 shares in the last quarter. Institutional investors own 99.36% of the company’s stock.

FTI Consulting Price Performance

NYSE:FCN opened at $161.62 on Thursday. FTI Consulting, Inc. has a one year low of $151.75 and a one year high of $243.60. The company’s 50-day simple moving average is $170.47 and its 200 day simple moving average is $192.36. The firm has a market capitalization of $5.81 billion, a P/E ratio of 20.72 and a beta of 0.21.

FTI Consulting (NYSE:FCN) last issued its earnings results on Thursday, February 20th. The business services provider reported $1.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.17). The firm had revenue of $894.92 million during the quarter, compared to analysts’ expectations of $913.70 million. FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. On average, equities research analysts expect that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FCN shares. The Goldman Sachs Group cut their target price on shares of FTI Consulting from $194.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Truist Financial lowered shares of FTI Consulting from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $225.00 to $178.00 in a research note on Wednesday, April 2nd. Finally, StockNews.com lowered shares of FTI Consulting from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd.

About FTI Consulting

FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications segments. The Corporate Finance & Restructuring segment provides business transformation and strategy, transactions, and turnaround and restructuring services.