Fmr LLC Has $613,000 Stake in FirstService Co. (NASDAQ:FSV)

Fmr LLC lifted its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 25.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,357 shares of the financial services provider’s stock after buying an additional 686 shares during the period. Fmr LLC’s holdings in FirstService were worth $613,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Millennium Management LLC boosted its stake in shares of FirstService by 2,136.1% during the 2nd quarter. Millennium Management LLC now owns 209,297 shares of the financial services provider’s stock worth $31,853,000 after buying an additional 199,937 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in FirstService by 6.8% during the second quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider’s stock worth $415,427,000 after acquiring an additional 174,970 shares in the last quarter. Bank of Montreal Can boosted its position in FirstService by 19.7% during the third quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider’s stock valued at $69,992,000 after purchasing an additional 63,807 shares during the last quarter. Boston Financial Mangement LLC grew its stake in FirstService by 25.3% in the third quarter. Boston Financial Mangement LLC now owns 246,673 shares of the financial services provider’s stock valued at $45,008,000 after purchasing an additional 49,790 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its position in shares of FirstService by 3.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider’s stock worth $217,409,000 after purchasing an additional 44,236 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FSV has been the subject of several recent analyst reports. TD Securities increased 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. StockNews.com upgraded FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Scotiabank increased their price objective on shares of FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 15th. Finally, Stifel Nicolaus lifted their target price on shares of FirstService from $200.00 to $215.00 and gave the stock 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $198.33.

FirstService Price Performance

NASDAQ:FSV opened at $181.48 on Thursday. FirstService Co. has a 52 week low of $141.26 and a 52 week high of $197.84. 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’s 50-day simple moving average is $188.76 and its 200 day simple moving average is $175.18. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of 75.62 and a beta of 1.04.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share 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 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 period in the previous year, the business earned $1.18 earnings per share. As a group, sell-side analysts predict that FirstService Co. will post 4.58 earnings per share for the current year.

FirstService Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Tuesday, December 31st. FirstService’s payout ratio is currently 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.