FirstService Co. (NASDAQ:FSV) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its holdings in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 41.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,082 shares of the financial services provider’s stock after selling 5,098 shares during the quarter. Thrivent Financial for Lutherans’ holdings in FirstService were worth $1,293,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in FSV. Blue Trust Inc. raised its stake in FirstService by 8,066.7% during the 2nd quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 242 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of FirstService by 35.0% during the second quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 91 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of FirstService by 49.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 138 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of FirstService in the 3rd quarter valued at about $66,000. Finally, First Horizon Advisors Inc. boosted its position in shares of FirstService by 40.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 141 shares during the period. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FSV shares. Scotiabank increased their price objective on FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a report on Tuesday, October 15th. StockNews.com upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Stifel Nicolaus lifted their price objective on shares of FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, TD Securities increased their target price on shares of FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.33.

FirstService Stock Down 0.3 %

Shares of FirstService stock opened at $194.19 on Monday. FirstService Co. has a one year low of $141.26 and a one year high of $197.84. The company has a market cap of $8.76 billion, a P/E ratio of 80.91 and a beta of 1.05. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a fifty day moving average of $186.31 and a two-hundred day moving average of $171.21.

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

FirstService Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.51%. FirstService’s dividend payout ratio (DPR) is presently 41.67%.

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.