FirstService Co. (NASDAQ:FSV) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC grew its position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,932 shares of the financial services provider’s stock after purchasing an additional 98 shares during the period. HighTower Advisors LLC’s holdings in FirstService were worth $533,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in shares of FirstService by 8,066.7% during the second quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 242 shares during the period. Benjamin Edwards Inc. lifted its position in FirstService by 35.0% in 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 during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of 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 purchasing an additional 138 shares during the period. Venturi Wealth Management LLC bought a new position in FirstService during the third quarter valued at about $66,000. Finally, Fifth Third Bancorp lifted its holdings in FirstService by 20.5% in the 2nd quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.

FirstService Trading Up 0.8 %

FSV stock opened at $183.67 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 76.53 and a beta of 1.04. The business has a fifty day moving average price of $188.66 and a 200 day moving average price of $175.27. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week high of $197.84.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued 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. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.32 billion. FirstService had a net margin of 2.19% and a return on equity of 16.68%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 EPS. Analysts expect that FirstService Co. will post 4.58 EPS for the current fiscal year.

FirstService Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 0.54%. FirstService’s dividend payout ratio (DPR) is currently 41.67%.

Analyst Upgrades and Downgrades

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

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.