Sanctuary Advisors LLC Buys Shares of 1,443 FirstService Co. (NASDAQ:FSV)

Sanctuary Advisors LLC purchased a new position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,443 shares of the financial services provider’s stock, valued at approximately $216,000.

A number of other large investors have also modified their holdings of the company. Millennium Management LLC raised its stake in FirstService by 2,136.1% during the 2nd quarter. Millennium Management LLC now owns 209,297 shares of the financial services provider’s stock valued at $31,853,000 after acquiring an additional 199,937 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of FirstService by 6.8% during the second quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider’s stock valued at $415,427,000 after purchasing an additional 174,970 shares during the period. Vanguard Group Inc. increased its holdings in shares of FirstService by 4.8% during the first quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock valued at $274,363,000 after purchasing an additional 76,503 shares during the period. Summit Creek Advisors LLC bought a new stake in shares of FirstService during the first quarter valued at about $11,710,000. Finally, Conestoga Capital Advisors LLC lifted its holdings in FirstService by 3.2% in the second quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider’s stock worth $217,409,000 after purchasing an additional 44,236 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Performance

Shares of FSV opened at $186.98 on Monday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.84 and a quick ratio of 1.84. The firm’s 50 day moving average is $179.31 and its 200-day moving average is $163.56. FirstService Co. has a 12-month low of $134.77 and a 12-month high of $189.89. The stock has a market capitalization of $8.41 billion, a P/E ratio of 92.56 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Thursday, July 25th. The financial services provider reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.10. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.28 billion. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $1.37 earnings per share. Equities research analysts anticipate that FirstService Co. will post 4.35 EPS for the current fiscal year.

FirstService Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, September 30th. FirstService’s payout ratio is 49.50%.

Analyst Upgrades and Downgrades

Several research firms have commented on FSV. TD Securities raised their target price on shares of FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a research note on Thursday. Royal Bank of Canada increased their price objective on shares of FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Scotiabank boosted their target price on FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $191.67.

About FirstService

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.