American Century Companies Inc. Reduces Stock Holdings in FirstService Co. (NASDAQ:FSV)

American Century Companies Inc. reduced its position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 4.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 423,701 shares of the financial services provider’s stock after selling 21,185 shares during the quarter. American Century Companies Inc. owned approximately 0.94% of FirstService worth $64,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Gulf International Bank UK Ltd raised its stake in FirstService by 25.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 75 shares during the period. Scotia Capital Inc. raised its position in shares of FirstService by 0.7% in the fourth quarter. Scotia Capital Inc. now owns 11,049 shares of the financial services provider’s stock valued at $1,785,000 after purchasing an additional 81 shares during the period. Fifth Third Bancorp boosted 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 worth $97,000 after buying an additional 108 shares during the period. First Horizon Advisors Inc. boosted its holdings in FirstService by 40.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock worth $74,000 after buying an additional 141 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in FirstService by 2.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,040 shares of the financial services provider’s stock valued at $998,000 after acquiring an additional 149 shares during the period. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Stock Up 1.0 %

FSV stock opened at $182.07 on Monday. The company’s 50 day moving average is $171.47 and its 200 day moving average is $160.72. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 90.13 and a beta of 1.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.23. FirstService Co. has a 1-year low of $134.77 and a 1-year high of $182.29.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.10. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.28 billion. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.37 EPS. Sell-side analysts predict that FirstService Co. will post 4.32 EPS for the current fiscal year.

FirstService Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 30th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. FirstService’s payout ratio is 49.51%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Scotiabank raised their price target on FirstService from $175.00 to $190.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Royal Bank of Canada lifted their target price on FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a report on Friday, July 26th. TD Securities increased their price target on shares of FirstService from $178.00 to $179.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, BMO Capital Markets boosted their price objective on shares of FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, FirstService has a consensus rating of “Moderate Buy” and an average price target of $189.50.

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.