Retirement Systems of Alabama Sells 435 Shares of FTI Consulting, Inc. (NYSE:FCN)

Retirement Systems of Alabama reduced its position in shares of FTI Consulting, Inc. (NYSE:FCN) by 1.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 42,860 shares of the business services provider’s stock after selling 435 shares during the quarter. Retirement Systems of Alabama’s holdings in FTI Consulting were worth $9,753,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FCN. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of FTI Consulting by 4.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 1,119 shares of the business services provider’s stock worth $241,000 after purchasing an additional 52 shares during the period. Assenagon Asset Management S.A. raised its position in FTI Consulting by 325.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 5,576 shares of the business services provider’s stock valued at $1,202,000 after purchasing an additional 4,266 shares during the last quarter. Blue Trust Inc. lifted its holdings in FTI Consulting by 229.1% in the 2nd quarter. Blue Trust Inc. now owns 836 shares of the business services provider’s stock worth $176,000 after buying an additional 582 shares during the period. Fifth Third Wealth Advisors LLC grew its position in shares of FTI Consulting by 61.0% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 2,857 shares of the business services provider’s stock worth $616,000 after buying an additional 1,083 shares during the last quarter. Finally, American National Bank purchased a new position in shares of FTI Consulting during the second quarter valued at approximately $59,000. Hedge funds and other institutional investors own 99.36% of the company’s stock.

FTI Consulting Stock Performance

FCN stock opened at $199.19 on Tuesday. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 22.90 and a beta of 0.12. The business’s 50 day moving average price is $206.69 and its two-hundred day moving average price is $215.49. FTI Consulting, Inc. has a fifty-two week low of $185.93 and a fifty-two week high of $243.60.

FTI Consulting (NYSE:FCN) last posted its quarterly earnings data on Thursday, October 24th. The business services provider reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.21). FTI Consulting had a return on equity of 14.79% and a net margin of 8.37%. The firm had revenue of $926.00 million during the quarter, compared to the consensus estimate of $946.16 million. During the same quarter last year, the company posted $2.34 EPS. FTI Consulting’s revenue for the quarter was up 3.7% compared to the same quarter last year. Sell-side analysts forecast that FTI Consulting, Inc. will post 8.1 earnings per share for the current year.

Analyst Ratings Changes

FCN has been the subject of a number of research analyst reports. Truist Financial raised their price target on FTI Consulting from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. StockNews.com raised shares of FTI Consulting from a “hold” rating to a “buy” rating in a research report on Saturday, November 2nd.

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.