Canada Pension Plan Investment Board Has $1.24 Million Stake in FTI Consulting, Inc. (NYSE:FCN)

Canada Pension Plan Investment Board lowered its holdings in shares of FTI Consulting, Inc. (NYSE:FCN) by 69.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,500 shares of the business services provider’s stock after selling 15,100 shares during the quarter. Canada Pension Plan Investment Board’s holdings in FTI Consulting were worth $1,242,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Farringdon Capital Ltd. acquired a new stake in shares of FTI Consulting in the 4th quarter valued at about $359,000. Ontario Teachers Pension Plan Board acquired a new stake in FTI Consulting in the 4th quarter valued at approximately $2,299,000. Barclays PLC lifted its stake in FTI Consulting by 22.4% in the 4th quarter. Barclays PLC now owns 31,747 shares of the business services provider’s stock valued at $6,068,000 after acquiring an additional 5,818 shares in the last quarter. Synovus Financial Corp boosted its position in FTI Consulting by 125.5% during the 4th quarter. Synovus Financial Corp now owns 10,622 shares of the business services provider’s stock worth $2,030,000 after acquiring an additional 5,912 shares during the last quarter. Finally, Black Creek Investment Management Inc. boosted its position in FTI Consulting by 166.1% during the 4th quarter. Black Creek Investment Management Inc. now owns 652,980 shares of the business services provider’s stock worth $124,804,000 after acquiring an additional 407,631 shares during the last quarter. Institutional investors own 99.36% of the company’s stock.

Analyst Ratings Changes

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

FTI Consulting Trading Down 3.9 %

NYSE:FCN opened at $161.96 on Friday. The firm has a fifty day simple moving average of $164.48 and a 200 day simple moving average of $187.95. FTI Consulting, Inc. has a 1-year low of $151.75 and a 1-year high of $243.60. The stock has a market capitalization of $5.82 billion, a PE ratio of 20.76 and a beta of 0.21.

FTI Consulting (NYSE:FCN) last issued its earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.50. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. On average, equities analysts predict that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting announced that its board has authorized a share repurchase plan on Thursday, April 24th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the business services provider to buy up to 6.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

FTI Consulting Profile

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.