US Bancorp DE Acquires 294 Shares of FirstService Co. (NASDAQ:FSV)

US Bancorp DE grew its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 29.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,278 shares of the financial services provider’s stock after buying an additional 294 shares during the period. US Bancorp DE’s holdings in FirstService were worth $233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of FSV. Benjamin Edwards Inc. lifted its holdings in shares of FirstService by 35.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 91 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of FirstService by 20.5% in the 2nd quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 108 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in FirstService by 49.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock valued at $63,000 after buying an additional 138 shares during the period. First Horizon Advisors Inc. lifted its position in FirstService by 40.6% in the second quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock worth $74,000 after buying an additional 141 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in FirstService by 3.7% during the second quarter. Public Sector Pension Investment Board now owns 4,048 shares of the financial services provider’s stock worth $616,000 after buying an additional 143 shares during the period. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Stock Performance

NASDAQ FSV opened at $187.09 on Thursday. The stock has a market cap of $8.44 billion, a PE ratio of 77.95 and a beta of 1.05. FirstService Co. has a twelve month low of $141.26 and a twelve month high of $192.71. The stock has a fifty day simple moving average of $183.61 and a 200-day simple moving average of $167.75. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.13.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, October 24th. The financial services provider reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.21. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the business posted $1.18 EPS. FirstService’s revenue for the quarter was up 25.0% on a year-over-year basis. Equities analysts anticipate that FirstService Co. will post 4.58 earnings per share for the current year.

FirstService Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were given a $0.25 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 0.53%. FirstService’s dividend payout ratio (DPR) is presently 41.67%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FSV. Stifel Nicolaus boosted their price objective on FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a report on Monday, October 21st. StockNews.com upgraded shares of FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Scotiabank raised their target price on shares of FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 15th. TD Securities increased their price objective on FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada lifted their target price on FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, FirstService currently has an average rating of “Moderate Buy” and an average price target of $198.33.

FirstService Profile

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.