California Public Employees Retirement System increased its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 owned about 0.32% of FTI Consulting worth $4,348,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Black Creek Investment Management Inc. boosted its position in shares of FTI Consulting by 19.6% during the second quarter. Black Creek Investment Management Inc. now owns 4,512,287 shares of the business services provider’s stock worth $157,750,000 after acquiring an additional 739,072 shares during the last quarter. State Street Corp raised its stake in FTI Consulting by 3.5% during the second quarter. State Street Corp now owns 1,349,945 shares of the business services provider’s stock valued at $47,192,000 after purchasing an additional 45,366 shares in the last quarter. Northern Trust Corp raised its stake in FTI Consulting by 34.0% during the second quarter. Northern Trust Corp now owns 1,230,348 shares of the business services provider’s stock valued at $43,013,000 after purchasing an additional 311,939 shares in the last quarter. JPMorgan Chase & Co. raised its stake in FTI Consulting by 2.0% during the second quarter. JPMorgan Chase & Co. now owns 800,922 shares of the business services provider’s stock valued at $28,000,000 after purchasing an additional 15,665 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its stake in FTI Consulting by 8.1% during the third quarter. Thompson Siegel & Walmsley LLC now owns 578,890 shares of the business services provider’s stock valued at $20,539,000 after purchasing an additional 43,256 shares in the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.
FCN has been the topic of a number of recent research reports. Zacks Investment Research raised shares of FTI Consulting from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. 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. (NYSE:FCN) opened at $42.93 on Thursday. The stock has a market cap of $1,640.00, a price-to-earnings ratio of 34.90 and a beta of 0.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.15 and a current ratio of 2.15. FTI Consulting, Inc. has a 12 month low of $31.65 and a 12 month high of $45.27.
FTI Consulting (NYSE:FCN) last released its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ 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%. FTI Consulting’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 earnings per share. equities analysts forecast that FTI Consulting, Inc. will post 2.06 EPS for the current year.
FTI Consulting announced that its board has initiated a share buyback plan on Monday, December 4th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
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About FTI Consulting
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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