Balyasny Asset Management L.P. Acquires New Holdings in FirstService Co. (NASDAQ:FSV)

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

Other institutional investors have also recently bought and sold shares of the company. Trust Co. of Vermont bought a new position in shares of FirstService during the 4th quarter valued at $46,000. Natixis grew its stake in FirstService by 5,511.1% in the 4th quarter. Natixis now owns 505 shares of the financial services provider's stock valued at $91,000 after buying an additional 496 shares during the last quarter. Blue Trust Inc. grew its stake in FirstService by 158.2% in the 4th quarter. Blue Trust Inc. now owns 728 shares of the financial services provider's stock valued at $133,000 after buying an additional 446 shares during the last quarter. Gitterman Wealth Management LLC acquired a new position in FirstService in the 4th quarter valued at $201,000. Finally, Congress Asset Management Co. acquired a new position in FirstService in the 4th quarter valued at $232,000. Institutional investors and hedge funds own 69.35% of the company's stock.

FirstService Stock Performance

NASDAQ FSV traded down $0.19 during midday trading on Tuesday, hitting $175.91. The company had a trading volume of 6,498 shares, compared to its average volume of 109,767. The company has a quick ratio of 1.79, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 59.12 and a beta of 1.04. The firm has a fifty day simple moving average of $170.19 and a two-hundred day simple moving average of $178.03. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week high of $197.84.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.92 earnings per share for the quarter, beating 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 business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the business earned $0.67 EPS. The firm's revenue was up 8.0% on a year-over-year basis. Equities analysts forecast that FirstService Co. will post 5.27 earnings per share for the current fiscal year.

FirstService Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 30th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Monday, June 30th. FirstService's dividend payout ratio is presently 38.06%.

Wall Street Analysts Forecast Growth

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