Bank of Nova Scotia Acquires 13,017 Shares of FTI Consulting, Inc. (NYSE:FCN)

Bank of Nova Scotia lifted its holdings in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 986.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,337 shares of the business services provider's stock after purchasing an additional 13,017 shares during the quarter. Bank of Nova Scotia's holdings in FTI Consulting were worth $2,352,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. lifted its position in FTI Consulting by 86.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,018,868 shares of the business services provider's stock worth $194,737,000 after buying an additional 472,245 shares during the last quarter. Black Creek Investment Management Inc. grew its holdings in FTI Consulting by 166.1% in the 4th quarter. Black Creek Investment Management Inc. now owns 652,980 shares of the business services provider's stock worth $124,804,000 after acquiring an additional 407,631 shares during the last quarter. Victory Capital Management Inc. increased its holdings in FTI Consulting by 11.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,549,781 shares of the business services provider's stock valued at $254,288,000 after purchasing an additional 153,523 shares during the period. Raymond James Financial Inc. purchased a new position in shares of FTI Consulting during the fourth quarter valued at approximately $27,726,000. Finally, Capital World Investors raised its holdings in FTI Consulting by 1,191.6% in the 4th quarter. Capital World Investors now owns 71,246 shares of the business services provider's stock worth $13,617,000 after purchasing an additional 65,730 shares in the last quarter. 99.36% of the stock is currently owned by institutional investors.

FTI Consulting Stock Down 0.4%

NYSE:FCN traded down $0.64 on Friday, reaching $167.58. 192,937 shares of the stock traded hands, compared to its average volume of 388,313. The company's fifty day simple moving average is $164.55 and its 200 day simple moving average is $168.27. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.25. FTI Consulting, Inc. has a 12 month low of $151.75 and a 12 month high of $231.65. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 23.60 and a beta of 0.18.

FTI Consulting (NYSE:FCN - Get Free Report) last issued its earnings results on Thursday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.26. The company had revenue of $943.66 million for the quarter, compared to analysts' expectations of $928.38 million. FTI Consulting had a net margin of 6.82% and a return on equity of 12.88%. The firm's quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the company posted $2.34 earnings per share. Equities analysts predict that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting announced that its board has initiated a stock buyback plan on Thursday, April 24th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the business services provider to buy up to 6.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, William Blair restated an "outperform" rating on shares of FTI Consulting in a report on Friday, April 25th.

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.