Geode Capital Management LLC Increases Stock Position in FirstService Co. (NASDAQ:FSV)

Geode Capital Management LLC grew its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,603 shares of the financial services provider’s stock after buying an additional 10,213 shares during the period. Geode Capital Management LLC owned approximately 0.53% of FirstService worth $45,144,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Benjamin Edwards Inc. increased its position in shares of FirstService by 35.0% during the 2nd quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 91 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in FirstService by 49.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock worth $63,000 after buying an additional 138 shares in the last quarter. Venturi Wealth Management LLC bought a new position in FirstService during the third quarter valued at approximately $66,000. Fifth Third Bancorp raised its stake in shares of FirstService by 20.5% during the second quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 108 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of FirstService by 45.3% in the 2nd quarter. Signaturefd LLC now owns 975 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 304 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

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

FirstService Trading Up 0.0 %

FSV opened at $183.71 on Tuesday. FirstService Co. has a one year low of $141.26 and a one year high of $197.84. 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 business has a 50 day simple moving average of $188.59 and a two-hundred day simple moving average of $176.10. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 76.55 and a beta of 1.04.

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. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.32 billion. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 earnings per share. Analysts predict that FirstService Co. will post 4.58 EPS for the current year.

FirstService Announces Dividend

The business also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Tuesday, December 31st. FirstService’s payout ratio is 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.