ICF International (NASDAQ:ICFI) Sees Strong Trading Volume – Here’s What Happened

ICF International, Inc. (NASDAQ:ICFI) shares saw an uptick in trading volume on Friday . 226,273 shares changed hands during trading, an increase of 122% from the previous session’s volume of 101,997 shares.The stock last traded at $143.52 and had previously closed at $154.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. StockNews.com upgraded ICF International from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Truist Financial upped their price objective on ICF International from $155.00 to $180.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Barrington Research reiterated an “outperform” rating and set a $174.00 target price on shares of ICF International in a research report on Friday, September 20th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $174.67.

ICF International Stock Performance

The stock has a 50 day moving average of $167.72 and a 200 day moving average of $154.36. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 25.07 and a beta of 0.61. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.43.

ICF International (NASDAQ:ICFI) last issued its quarterly earnings results on Friday, November 1st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.36. ICF International had a net margin of 5.38% and a return on equity of 14.68%. The firm had revenue of $517.00 million for the quarter, compared to the consensus estimate of $528.02 million. During the same quarter in the previous year, the company earned $1.81 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, analysts predict that ICF International, Inc. will post 7.45 EPS for the current year.

ICF International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, December 6th. This represents a $0.56 dividend on an annualized basis and a yield of 0.41%. ICF International’s payout ratio is currently 9.84%.

Insider Activity

In other news, CEO John Wasson sold 1,417 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $165.14, for a total transaction of $234,003.38. Following the transaction, the chief executive officer now owns 52,605 shares in the company, valued at approximately $8,687,189.70. This represents a 2.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO James C. M. Morgan sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $175.07, for a total value of $437,675.00. Following the completion of the sale, the chief operating officer now owns 37,663 shares of the company’s stock, valued at approximately $6,593,661.41. This represents a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,823 shares of company stock valued at $1,165,078 in the last ninety days. 1.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On ICF International

A number of large investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of ICF International in the first quarter valued at approximately $167,000. Clearbridge Investments LLC grew its stake in shares of ICF International by 2.5% in the 1st quarter. Clearbridge Investments LLC now owns 127,381 shares of the business services provider’s stock worth $19,187,000 after acquiring an additional 3,070 shares in the last quarter. Argent Capital Management LLC raised its holdings in shares of ICF International by 10.2% in the second quarter. Argent Capital Management LLC now owns 27,418 shares of the business services provider’s stock valued at $4,070,000 after purchasing an additional 2,542 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of ICF International by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 99,542 shares of the business services provider’s stock valued at $14,778,000 after purchasing an additional 2,173 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its holdings in ICF International by 1.3% during the second quarter. Peregrine Capital Management LLC now owns 106,541 shares of the business services provider’s stock worth $15,817,000 after purchasing an additional 1,367 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors.

ICF International Company Profile

ICF International, Inc provides management, technology, and policy consulting and implementation services to government and commercial clients in the United States and internationally. The company researches critical policy, industry, stakeholder issues, trends, and behaviors; measures and evaluates results and their impact; and provides strategic planning and advisory services to its clients on how to navigate societal, business, market, business, communication, and technology challenges.