Pier Capital LLC Makes New $6.58 Million Investment in ICF International, Inc. (NASDAQ:ICFI)

Pier Capital LLC acquired a new position in shares of ICF International, Inc. (NASDAQ:ICFI - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 39,445 shares of the business services provider's stock, valued at approximately $6,579,000. Pier Capital LLC owned 0.21% of ICF International at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC lifted its holdings in shares of ICF International by 730.3% during the 2nd quarter. SG Americas Securities LLC now owns 9,225 shares of the business services provider's stock valued at $1,370,000 after buying an additional 8,114 shares during the last quarter. Argent Capital Management LLC lifted its holdings in shares of ICF International by 10.2% during the 2nd quarter. Argent Capital Management LLC now owns 27,418 shares of the business services provider's stock valued at $4,070,000 after buying an additional 2,542 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of ICF International by 2.2% during the 2nd 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 buying an additional 2,173 shares during the last quarter. Peregrine Capital Management LLC lifted its holdings in shares of ICF International by 1.3% during the 2nd quarter. Peregrine Capital Management LLC now owns 106,541 shares of the business services provider's stock valued at $15,817,000 after buying an additional 1,367 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of ICF International by 0.9% during the 2nd quarter. Rhumbline Advisers now owns 27,487 shares of the business services provider's stock valued at $4,081,000 after buying an additional 247 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ICFI. Barrington Research reiterated an "outperform" rating and set a $174.00 price target on shares of ICF International in a report on Friday, September 20th. Sidoti upgraded ICF International from a "neutral" rating to a "buy" rating and set a $185.00 price target for the company in a report on Tuesday, November 19th. StockNews.com lowered ICF International from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 27th. Finally, Truist Financial reduced their target price on ICF International from $180.00 to $140.00 and set a "hold" rating for the company in a report on Friday, November 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $167.25.

ICF International Stock Performance

NASDAQ ICFI traded down $0.36 during trading on Friday, hitting $132.50. The company's stock had a trading volume of 165,988 shares, compared to its average volume of 264,783. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average price of $158.14 and a 200 day moving average price of $153.03. The firm has a market cap of $2.49 billion, a P/E ratio of 23.29 and a beta of 0.54. ICF International, Inc. has a 52 week low of $128.28 and a 52 week high of $179.67.

ICF International (NASDAQ:ICFI - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.77 by $0.36. The company had revenue of $517.00 million for the quarter, compared to the consensus estimate of $528.02 million. ICF International had a return on equity of 14.68% and a net margin of 5.38%. The company's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.81 EPS. Equities research analysts forecast that ICF International, Inc. will post 7.44 earnings per share for the current fiscal 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 given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Friday, December 6th. ICF International's dividend payout ratio is currently 9.84%.

Insiders Place Their Bets

In other news, Director Scott B. Salmirs acquired 400 shares of the stock in a transaction dated Monday, November 18th. The shares were acquired at an average cost of $138.38 per share, for a total transaction of $55,352.00. Following the completion of the transaction, the director now owns 5,803 shares in the company, valued at approximately $803,019.14. This trade represents a 7.40 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO James C. M. Morgan sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $175.07, for a total value of $437,675.00. Following the sale, the chief operating officer now owns 37,663 shares in the company, 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 a total of 4,038 shares of company stock valued at $705,355 in the last three months. Company insiders own 1.39% of the company's stock.

ICF International 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.