Balyasny Asset Management L.P. Invests $788,000 in FirstService Co. (NASDAQ:FSV)

Balyasny Asset Management L.P. purchased a new stake in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,354 shares of the financial services provider's stock, valued at approximately $788,000.

Several other institutional investors have also modified their holdings of the company. Trust Co. of Vermont bought a new stake in shares of FirstService in the 4th quarter worth approximately $46,000. Natixis lifted its holdings in FirstService by 5,511.1% in the 4th quarter. Natixis now owns 505 shares of the financial services provider's stock worth $91,000 after purchasing an additional 496 shares during the last quarter. Blue Trust Inc. increased its stake in FirstService by 158.2% during the fourth quarter. Blue Trust Inc. now owns 728 shares of the financial services provider's stock valued at $133,000 after acquiring an additional 446 shares during the period. Gitterman Wealth Management LLC bought a new position in FirstService during the 4th quarter valued at about $201,000. Finally, Congress Asset Management Co. acquired a new position in FirstService during the 4th quarter worth $232,000. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Stock Performance

Shares of FSV stock traded up $0.50 during mid-day trading on Monday, reaching $176.13. 24,973 shares of the company's stock traded hands, compared to its average volume of 110,084. The firm has a 50 day moving average price of $169.95 and a two-hundred day moving average price of $178.10. The firm has a market capitalization of $8.00 billion, a PE ratio of 59.30 and a beta of 1.04. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.79 and a current ratio of 1.75. FirstService Co. has a 12 month low of $141.26 and a 12 month high of $197.84.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its earnings results on Thursday, April 24th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.08. FirstService had a net margin of 2.58% and a return on equity of 17.15%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business earned $0.67 EPS. The business's revenue was up 8.0% on a year-over-year basis. On average, research analysts forecast that FirstService Co. will post 5.27 EPS for the current year.

FirstService Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.62%. FirstService's payout ratio is 38.06%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FSV. TD Securities upped their target price on shares of FirstService from $198.00 to $200.00 and gave the company a "hold" rating in a report on Wednesday, May 7th. Raymond James lifted their price target on shares of FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Scotiabank cut their price target on FirstService from $217.50 to $210.00 and set a "sector perform" rating on the stock in a report on Thursday, April 17th. Finally, StockNews.com lowered shares of FirstService from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $206.33.

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.