FTI Consulting, Inc. (NYSE:FCN) Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System boosted its holdings in FTI Consulting, Inc. (NYSE:FCN) by 3.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 146,858 shares of the business services provider’s stock after buying an additional 4,853 shares during the quarter. California Public Employees Retirement System’s holdings in FTI Consulting were worth $28,069,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its holdings in shares of FTI Consulting by 9,995.1% in the 4th quarter. Pacer Advisors Inc. now owns 518,687 shares of the business services provider’s stock worth $99,137,000 after acquiring an additional 513,549 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of FTI Consulting in the 4th quarter valued at $27,726,000. Norges Bank purchased a new position in FTI Consulting in the 4th quarter worth about $15,260,000. Allspring Global Investments Holdings LLC raised its holdings in FTI Consulting by 1,215.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 48,945 shares of the business services provider’s stock worth $9,291,000 after buying an additional 45,224 shares during the period. Finally, Wealthfront Advisers LLC purchased a new stake in FTI Consulting during the fourth quarter valued at about $8,572,000. Institutional investors and hedge funds own 99.36% of the company’s stock.

FTI Consulting Price Performance

NYSE FCN opened at $161.35 on Friday. The company has a 50 day simple moving average of $175.14 and a 200-day simple moving average of $195.20. FTI Consulting, Inc. has a 52-week low of $157.52 and a 52-week high of $243.60. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 20.69 and a beta of 0.14.

FTI Consulting (NYSE:FCN) last released its earnings results on Thursday, February 20th. The business services provider reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.17). FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. The company had revenue of $894.92 million during the quarter, compared to analysts’ expectations of $913.70 million. On average, analysts predict that FTI Consulting, Inc. will post 8.55 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on FCN. The Goldman Sachs Group dropped their target price on shares of FTI Consulting from $194.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. StockNews.com downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Truist Financial lowered FTI Consulting from a “buy” rating to a “hold” rating and reduced their target price for the company from $225.00 to $178.00 in a report on Wednesday.

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.