Massachusetts Financial Services Co. MA Boosts Stake in FirstService Co. (NASDAQ:FSV)

Massachusetts Financial Services Co. MA boosted its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 128,503 shares of the financial services provider’s stock after acquiring an additional 376 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.29% of FirstService worth $19,580,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Accent Capital Management LLC acquired a new stake in shares of FirstService during the 4th quarter valued at approximately $40,000. Blue Trust Inc. raised its holdings in FirstService by 8,066.7% during the second quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 242 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in FirstService by 25.9% during the first quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 75 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in FirstService by 40.6% in the second quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 141 shares during the last quarter. Finally, Security National Bank purchased a new position in shares of FirstService in the fourth quarter valued at $90,000. Institutional investors and hedge funds own 69.35% of the company’s stock.

Wall Street Analyst Weigh In

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

FirstService Stock Performance

NASDAQ FSV opened at $181.01 on Friday. The business’s 50-day moving average price is $173.80 and its 200 day moving average price is $161.29. 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 twelve month low of $134.77 and a twelve month high of $182.88. The company has a market capitalization of $8.14 billion, a PE ratio of 89.61 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.10. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm posted $1.37 EPS. The company’s revenue was up 15.9% on a year-over-year basis. On average, research analysts predict that FirstService Co. will post 4.32 earnings per share for the current year.

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 0.55%. FirstService’s dividend payout ratio is presently 49.50%.

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.