T. Rowe Price Investment Management Inc. Increases Stock Position in FTI Consulting, Inc. (NYSE:FCN)

T. Rowe Price Investment Management Inc. boosted its holdings in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 86.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,018,868 shares of the business services provider's stock after acquiring an additional 472,245 shares during the quarter. T. Rowe Price Investment Management Inc. owned 2.83% of FTI Consulting worth $194,737,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FCN. Pacer Advisors Inc. grew its stake 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 period. Black Creek Investment Management Inc. lifted its holdings in shares of FTI Consulting by 166.1% in the fourth quarter. Black Creek Investment Management Inc. now owns 652,980 shares of the business services provider's stock valued at $124,804,000 after purchasing an additional 407,631 shares in the last quarter. Mawer Investment Management Ltd. lifted its holdings in shares of FTI Consulting by 3.8% in the fourth 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 in the last quarter. Raymond James Financial Inc. bought a new stake in shares of FTI Consulting in the fourth quarter valued at about $27,726,000. Finally, Norges Bank bought a new stake in shares of FTI Consulting in the fourth quarter valued at about $15,260,000. 99.36% of the stock is owned by institutional investors.

FTI Consulting Stock Performance

Shares of FTI Consulting stock traded up $0.86 on Tuesday, hitting $163.30. The stock had a trading volume of 76,736 shares, compared to its average volume of 234,170. The stock has a 50 day moving average of $163.40 and a 200 day moving average of $186.62. FTI Consulting, Inc. has a twelve month low of $151.75 and a twelve month high of $243.60. The firm has a market capitalization of $5.78 billion, a P/E ratio of 20.94 and a beta of 0.21.

FTI Consulting (NYSE:FCN - Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, topping the consensus estimate of $1.79 by $0.50. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The company had revenue of $898.28 million during the quarter, compared to the consensus estimate of $906.93 million. During the same period in the previous year, the firm posted $2.23 earnings per share. The firm's revenue for the quarter was down 3.3% on a year-over-year basis. Equities analysts expect that FTI Consulting, Inc. will post 8.55 earnings per share for the current year.

FTI Consulting declared that its board has authorized a share buyback plan on Thursday, April 24th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Truist Financial cut FTI Consulting from a "buy" rating to a "hold" rating and reduced their price target for the company from $225.00 to $178.00 in a research report on Wednesday, April 2nd. StockNews.com cut shares of FTI Consulting from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. William Blair reaffirmed an "outperform" rating on shares of FTI Consulting in a research report on Friday. Finally, The Goldman Sachs Group cut their price objective on shares of FTI Consulting from $194.00 to $173.00 and set a "neutral" rating for the company in a research report on Friday, February 21st.

FTI Consulting Company 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.