Caisse DE Depot ET Placement DU Quebec Increases Stock Position in FTI Consulting, Inc. (NYSE:FCN)

Caisse DE Depot ET Placement DU Quebec grew its position in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 1,812.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,900 shares of the business services provider's stock after purchasing an additional 43,500 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.13% of FTI Consulting worth $8,773,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mawer Investment Management Ltd. increased its position in FTI Consulting by 3.8% during the fourth quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider's stock worth $777,060,000 after buying an additional 149,276 shares during the period. Vanguard Group Inc. grew its position in FTI Consulting by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 3,564,322 shares of the business services provider's stock worth $681,249,000 after purchasing an additional 23,419 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in FTI Consulting by 86.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,018,868 shares of the business services provider's stock valued at $194,737,000 after purchasing an additional 472,245 shares during the period. Alliancebernstein L.P. raised its holdings in shares of FTI Consulting by 9.3% in the fourth quarter. Alliancebernstein L.P. now owns 740,858 shares of the business services provider's stock valued at $141,600,000 after buying an additional 63,163 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of FTI Consulting by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 701,033 shares of the business services provider's stock worth $133,987,000 after buying an additional 23,784 shares during the period. Institutional investors and hedge funds own 99.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FCN. The Goldman Sachs Group dropped their price target on FTI Consulting from $194.00 to $173.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Truist Financial cut FTI Consulting from a "buy" rating to a "hold" rating and cut their price target for the stock from $225.00 to $178.00 in a research note on Wednesday, April 2nd. StockNews.com cut shares of FTI Consulting from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Finally, William Blair restated an "outperform" rating on shares of FTI Consulting in a research note on Friday, April 25th.

FTI Consulting Stock Performance

FTI Consulting stock opened at $166.56 on Friday. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 21.35 and a beta of 0.21. FTI Consulting, Inc. has a fifty-two week low of $151.75 and a fifty-two week high of $243.60. The stock's fifty day moving average is $163.50 and its two-hundred day moving average is $185.19.

FTI Consulting (NYSE:FCN - Get Free Report) last posted 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 return on equity of 13.15% and a net margin of 7.57%. The firm had revenue of $898.28 million for the quarter, compared to analyst estimates of $906.93 million. During the same quarter in the prior year, the company earned $2.23 EPS. FTI Consulting's revenue was down 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting declared that its Board of Directors has authorized a stock buyback plan on Thursday, April 24th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the business services provider to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

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.

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