KLP Kapitalforvaltning AS Takes Position in FTI Consulting, Inc. (NYSE:FCN)

KLP Kapitalforvaltning AS bought a new stake in FTI Consulting, Inc. (NYSE:FCN) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 8,800 shares of the business services provider’s stock, valued at approximately $1,682,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FCN. Pacer Advisors Inc. grew its holdings in shares of FTI Consulting by 9,995.1% during 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. Raymond James Financial Inc. purchased a new position in FTI Consulting during the 4th quarter worth approximately $27,726,000. Allspring Global Investments Holdings LLC increased its position in FTI Consulting by 1,215.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 48,945 shares of the business services provider’s stock worth $9,291,000 after buying an additional 45,224 shares during the period. Wealthfront Advisers LLC purchased a new stake in FTI Consulting in the fourth quarter valued at approximately $8,572,000. Finally, FMR LLC boosted its holdings in shares of FTI Consulting by 13.6% in the third quarter. FMR LLC now owns 325,680 shares of the business services provider’s stock valued at $74,112,000 after acquiring an additional 38,977 shares during the period. 99.36% of the stock is currently owned by institutional investors and hedge funds.

FTI Consulting Price Performance

Shares of NYSE FCN opened at $162.28 on Friday. The stock has a fifty day moving average price of $177.51 and a 200 day moving average price of $196.79. FTI Consulting, Inc. has a 1-year low of $158.88 and a 1-year high of $243.60. The company has a market cap of $5.83 billion, a PE ratio of 20.80 and a beta of 0.14.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FCN. 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 report on Friday, February 21st. Truist Financial reduced their target price on shares of FTI Consulting from $275.00 to $225.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, StockNews.com raised FTI Consulting from a “hold” rating to a “buy” rating in a report on Thursday, March 20th.

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.