Treasurer of the State of North Carolina Reduces Holdings in FTI Consulting, Inc. (NYSE:FCN)

Treasurer of the State of North Carolina lessened its position in FTI Consulting, Inc. (NYSE:FCN) by 48.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,463 shares of the business services provider’s stock after selling 14,260 shares during the quarter. Treasurer of the State of North Carolina’s holdings in FTI Consulting were worth $2,955,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in FTI Consulting by 9,995.1% in the fourth quarter. Pacer Advisors Inc. now owns 518,687 shares of the business services provider’s stock worth $99,137,000 after purchasing an additional 513,549 shares during the last quarter. Mawer Investment Management Ltd. lifted its stake in shares of FTI Consulting by 3.8% during 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. Raymond James Financial Inc. bought a new stake in shares of FTI Consulting during the 4th quarter worth approximately $27,726,000. Norges Bank purchased a new position in FTI Consulting during the 4th quarter valued at $15,260,000. Finally, Alliancebernstein L.P. grew its position in FTI Consulting by 9.3% in the 4th quarter. Alliancebernstein L.P. now owns 740,858 shares of the business services provider’s stock valued at $141,600,000 after acquiring an additional 63,163 shares during the last quarter. 99.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FCN shares. The Goldman Sachs Group lowered their target price 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. StockNews.com downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Finally, Truist Financial downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating and decreased their price target for the company from $225.00 to $178.00 in a research note on Wednesday, April 2nd.

FTI Consulting Stock Performance

NYSE FCN opened at $163.92 on Thursday. FTI Consulting, Inc. has a one year low of $151.75 and a one year high of $243.60. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 21.02 and a beta of 0.21. The company’s 50-day simple moving average is $167.50 and its two-hundred day simple moving average is $190.44.

FTI Consulting (NYSE:FCN) last announced 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 company had revenue of $894.92 million for the quarter, compared to the consensus estimate of $913.70 million. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. Equities analysts expect that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

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.