BNP Paribas Financial Markets Acquires 501 Shares of FirstService Co. (NASDAQ:FSV)

BNP Paribas Financial Markets lifted its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,218 shares of the financial services provider’s stock after buying an additional 501 shares during the period. BNP Paribas Financial Markets’ holdings in FirstService were worth $1,317,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC boosted its stake in shares of FirstService by 25.7% during the 3rd quarter. FMR LLC now owns 3,357 shares of the financial services provider’s stock worth $613,000 after purchasing an additional 686 shares during the period. Bank of Montreal Can lifted its stake in FirstService by 19.7% in the third quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider’s stock worth $69,992,000 after purchasing an additional 63,807 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in FirstService in the third quarter worth about $342,000. Cerity Partners LLC boosted its position in shares of FirstService by 12.6% during the third quarter. Cerity Partners LLC now owns 2,330 shares of the financial services provider’s stock valued at $425,000 after buying an additional 261 shares during the period. Finally, Montrusco Bolton Investments Inc. grew its stake in shares of FirstService by 0.9% during the third quarter. Montrusco Bolton Investments Inc. now owns 64,674 shares of the financial services provider’s stock valued at $11,830,000 after buying an additional 548 shares during the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Trading Down 0.1 %

NASDAQ:FSV opened at $191.83 on Tuesday. The firm has a 50-day simple moving average of $187.60 and a 200-day simple moving average of $173.29. FirstService Co. has a one year low of $141.26 and a one year high of $197.84. The firm has a market cap of $8.68 billion, a P/E ratio of 79.93 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79.

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

FirstService Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Tuesday, December 31st. FirstService’s payout ratio is 41.67%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. TD Securities boosted their price objective on FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Scotiabank lifted their target price on FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 15th. Stifel Nicolaus upped their target price on shares of FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $198.33.

FirstService Company 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.