Bank of New York Mellon Corp Reduces Stock Holdings in FTI Consulting, Inc. (NYSE:FCN)

Bank of New York Mellon Corp trimmed its position in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 7.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 253,483 shares of the business services provider's stock after selling 20,077 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.72% of FTI Consulting worth $41,591,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Mawer Investment Management Ltd. grew its holdings 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 valued at $777,060,000 after purchasing an additional 149,276 shares during the last quarter. Vanguard Group Inc. lifted its position in FTI Consulting by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 3,564,322 shares of the business services provider's stock valued at $681,249,000 after purchasing an additional 23,419 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of FTI Consulting by 86.4% during 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. grew 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 worth $141,600,000 after purchasing an additional 63,163 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of FTI Consulting by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 701,033 shares of the business services provider's stock worth $133,987,000 after purchasing an additional 23,784 shares during the last quarter. 99.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of FTI Consulting from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. William Blair restated an "outperform" rating on shares of FTI Consulting in a report on Friday, April 25th. Finally, Truist Financial cut FTI Consulting from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $225.00 to $178.00 in a report on Wednesday, April 2nd.

Insider Buying and Selling at FTI Consulting

In other news, CFO Ajay Sabherwal sold 5,236 shares of FTI Consulting stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $164.60, for a total transaction of $861,845.60. Following the completion of the transaction, the chief financial officer directly owned 24,777 shares in the company, valued at approximately $4,078,294.20. This trade represents a 17.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.79% of the company's stock.

FTI Consulting Trading Down 0.7%

Shares of NYSE:FCN traded down $1.12 on Tuesday, hitting $166.19. The company had a trading volume of 13,802 shares, compared to its average volume of 369,229. FTI Consulting, Inc. has a 1 year low of $151.75 and a 1 year high of $243.60. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 22.73 and a beta of 0.19. The firm's 50-day simple moving average is $163.74 and its two-hundred day simple moving average is $171.59. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.07.

FTI Consulting (NYSE:FCN - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.50. FTI Consulting had a return on equity of 13.07% and a net margin of 7.14%. The company had revenue of $898.28 million for the quarter, compared to analyst estimates of $906.93 million. During the same period in the previous year, the company posted $2.23 earnings per share. The firm's revenue was down 3.3% on a year-over-year basis. Equities analysts anticipate that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting declared that its Board of Directors has initiated a stock repurchase program on Thursday, April 24th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the business services provider to reacquire up to 6.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is 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.