Bank of New York Mellon Corp Reduces Stake in FTI Consulting, Inc. $FCN

Bank of New York Mellon Corp reduced its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 7.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 233,792 shares of the business services provider’s stock after selling 19,691 shares during the quarter. Bank of New York Mellon Corp owned about 0.72% of FTI Consulting worth $37,757,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Bank of Montreal Can increased its position in shares of FTI Consulting by 65.0% during the 2nd quarter. Bank of Montreal Can now owns 8,821 shares of the business services provider’s stock valued at $1,425,000 after purchasing an additional 3,475 shares during the last quarter. Montanaro Asset Management Ltd boosted its stake in FTI Consulting by 11.1% during the second quarter. Montanaro Asset Management Ltd now owns 50,000 shares of the business services provider’s stock worth $8,075,000 after buying an additional 5,000 shares during the period. Atria Investments Inc increased its position in FTI Consulting by 5.8% during the second quarter. Atria Investments Inc now owns 11,108 shares of the business services provider’s stock valued at $1,794,000 after acquiring an additional 605 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of FTI Consulting by 39.9% in the second quarter. Retirement Systems of Alabama now owns 60,160 shares of the business services provider’s stock valued at $9,716,000 after acquiring an additional 17,166 shares during the period. Finally, World Investment Advisors purchased a new stake in shares of FTI Consulting in the second quarter valued at $598,000. 99.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FCN. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of FTI Consulting in a research note on Wednesday, October 8th. Truist Financial dropped their target price on FTI Consulting from $178.00 to $165.00 and set a “hold” rating for the company in a research report on Thursday, October 23rd. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $169.00.

FTI Consulting Stock Up 1.0%

Shares of NYSE:FCN opened at $165.48 on Thursday. The business’s 50 day moving average is $161.87 and its 200 day moving average is $164.19. The stock has a market cap of $5.11 billion, a P/E ratio of 21.08 and a beta of 0.14. FTI Consulting, Inc. has a 52-week low of $149.31 and a 52-week high of $208.28. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.29.

FTI Consulting (NYSE:FCN) last issued its earnings results on Thursday, October 23rd. The business services provider reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.67. FTI Consulting had a return on equity of 14.49% and a net margin of 7.20%.The business had revenue of $956.17 million during the quarter, compared to analyst estimates of $941.19 million. During the same period in the previous year, the company posted $1.85 EPS. FTI Consulting’s revenue was up 3.3% on a year-over-year basis. FTI Consulting has set its FY 2025 guidance at 8.200-8.70 EPS. Sell-side analysts predict that FTI Consulting, Inc. will post 8.55 EPS for the current year.

FTI Consulting declared that its board has initiated a share buyback plan on Tuesday, October 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the business services provider to purchase up to 9.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at FTI Consulting

In other FTI Consulting news, CEO Steven Henry Gunby bought 7,500 shares of the business’s stock in a transaction on Friday, October 24th. The shares were acquired at an average price of $151.12 per share, with a total value of $1,133,400.00. Following the transaction, the chief executive officer owned 294,007 shares of the company’s stock, valued at approximately $44,430,337.84. This trade represents a 2.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.79% of the stock is currently owned by insiders.

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.