KLP Kapitalforvaltning AS Makes New Investment in FTI Consulting, Inc. (NYSE:FCN)

KLP Kapitalforvaltning AS bought a new stake in FTI Consulting, Inc. (NYSE:FCN) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 8,800 shares of the business services provider’s stock, valued at approximately $1,682,000.

Several other institutional investors also recently made changes to their positions in the stock. CIBC Asset Management Inc lifted its stake in shares of FTI Consulting by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,083 shares of the business services provider’s stock valued at $207,000 after purchasing an additional 55 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of FTI Consulting by 2.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 3,435 shares of the business services provider’s stock valued at $657,000 after acquiring an additional 85 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of FTI Consulting by 3.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,389 shares of the business services provider’s stock valued at $457,000 after acquiring an additional 89 shares during the period. UMB Bank n.a. boosted its stake in shares of FTI Consulting by 59.6% during the 4th quarter. UMB Bank n.a. now owns 265 shares of the business services provider’s stock worth $51,000 after acquiring an additional 99 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its holdings in shares of FTI Consulting by 6.0% in the 4th quarter. Axxcess Wealth Management LLC now owns 1,820 shares of the business services provider’s stock worth $348,000 after acquiring an additional 103 shares during the period. 99.36% of the stock is currently owned by hedge funds and other institutional investors.

FTI Consulting Stock Performance

Shares of NYSE:FCN opened at $162.28 on Friday. The business’s fifty day moving average price is $177.51 and its two-hundred day moving average price is $196.79. The stock has a market cap of $5.83 billion, a PE ratio of 20.80 and a beta of 0.14. FTI Consulting, Inc. has a one year low of $158.88 and a one year high of $243.60.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FCN. The Goldman Sachs Group reduced their price objective on FTI Consulting from $194.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Truist Financial decreased their price objective on shares of FTI Consulting from $275.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, StockNews.com upgraded shares of FTI Consulting from a “hold” rating to a “buy” rating in a report on Thursday, March 20th.

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.