Metallabenzynes (1M), contrary to their organic analogues, benzynes, undergo ring-contraction to metal-carbene complexes (2M) via a reverse Fritsch-Buttenberg-Wiechell (FBW) type rearrangement. A detailed computational quantum mechanical study has been carried out to understand the effect of different third row transition metal fragments (MLL'; M = W, Re, Os, Ir, Pt; L/L' = PH, Cl, CO) on the stability of metallabenzynes and their reactivity toward reverse FBW type rearrangement. Our results indicate that the late transition metal fragments Ir(PH)Cl and PtCl prefer 16 VE metal-carbene complex (2M), while the middle transition metal fragments W(PH), Re(PH)Cl, and Os(PH)Cl prefer metallabenzyne (1M). This can be attributed to the reduced overlap between the transition metal fragment MLL' and organic fragment CH in metallabenzyne 1M when M changes from W to Pt. Furthermore, the presence of a π-accepting ligand CO on the metal fragment makes the conversion of 1M to 2M more feasible.