JPMorgan Chase & Co. Boosts Holdings in FirstService Co. (NASDAQ:FSV)

JPMorgan Chase & Co. boosted its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 200,776 shares of the financial services provider’s stock after acquiring an additional 10,191 shares during the period. JPMorgan Chase & Co. owned 0.44% of FirstService worth $36,634,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. raised its stake in FirstService by 35.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 91 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of FirstService in the third quarter worth about $53,000. Benjamin F. Edwards & Company Inc. raised its position in shares of FirstService by 49.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 138 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of FirstService during the 3rd quarter valued at approximately $66,000. Finally, Sanctuary Advisors LLC bought a new position in FirstService in the 2nd quarter worth approximately $216,000. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Scotiabank boosted their target price on shares of FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a report on Tuesday, October 15th. Stifel Nicolaus boosted their price objective on FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, October 21st. TD Securities increased their price objective on FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Finally, StockNews.com raised FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $198.33.

FirstService Price Performance

FirstService stock opened at $179.38 on Tuesday. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 74.74 and a beta of 1.04. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.13. The business has a 50-day simple moving average of $187.60 and a 200 day simple moving average of $178.27. FirstService Co. has a 52 week low of $141.26 and a 52 week high of $197.84.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data 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 company 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%. FirstService’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.18 earnings per share. On average, research analysts forecast that FirstService Co. will post 4.58 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The business also recently disclosed 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. This represents a $1.00 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Tuesday, December 31st. FirstService’s dividend payout ratio (DPR) 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.