MML Investors Services LLC Invests $262,000 in FirstService Co. (NASDAQ:FSV)

MML Investors Services LLC purchased a new position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,436 shares of the financial services provider’s stock, valued at approximately $262,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. boosted its holdings 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 worth $53,000 after purchasing an additional 91 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in FirstService by 49.6% during 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 acquired a new position in FirstService during the third quarter worth $66,000. Signaturefd LLC boosted its stake in FirstService by 45.3% during the second quarter. Signaturefd LLC now owns 975 shares of the financial services provider’s stock worth $148,000 after buying an additional 304 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of FirstService in the 2nd quarter worth $216,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Stock Performance

Shares of FSV stock opened at $184.48 on Thursday. 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 market cap of $8.35 billion, a P/E ratio of 76.87 and a beta of 1.04. The firm’s 50 day moving average price is $188.48 and its 200-day moving average price is $176.40. FirstService Co. has a one year low of $141.26 and a one year high of $197.84.

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

FirstService Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 31st will be given 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 is presently 41.67%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FSV shares. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Stifel Nicolaus increased their price target 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. Scotiabank raised their price target on shares of FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 15th. Finally, TD Securities upped 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.