D. E. Shaw & Co. Inc. raised its position in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 201.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,311 shares of the financial services provider's stock after acquiring an additional 61,000 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.20% of FirstService worth $16,532,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in FirstService by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 1,794,676 shares of the financial services provider's stock worth $325,100,000 after purchasing an additional 23,103 shares during the period. FIL Ltd lifted its holdings in FirstService by 12.0% during the 4th quarter. FIL Ltd now owns 1,057,284 shares of the financial services provider's stock valued at $191,524,000 after buying an additional 113,592 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in FirstService by 53.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 656,097 shares of the financial services provider's stock valued at $118,767,000 after buying an additional 229,889 shares during the period. Franklin Resources Inc. boosted its position in FirstService by 18.5% in the 4th quarter. Franklin Resources Inc. now owns 556,050 shares of the financial services provider's stock valued at $100,632,000 after buying an additional 86,909 shares during the period. Finally, Norges Bank bought a new position in FirstService in the 4th quarter worth about $98,615,000. Hedge funds and other institutional investors own 69.35% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on FSV. Raymond James lifted their price target 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. TD Securities lifted their target price on FirstService from $198.00 to $200.00 and gave the company a "hold" rating in a research report on Wednesday, May 7th. StockNews.com cut FirstService from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, Scotiabank dropped their price target on FirstService from $217.50 to $210.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $206.33.
Check Out Our Latest Stock Report on FirstService
FirstService Stock Up 0.0%
FSV stock traded up $0.02 during trading on Friday, hitting $175.63. 74,285 shares of the company's stock traded hands, compared to its average volume of 110,115. The firm has a market capitalization of $7.98 billion, a P/E ratio of 59.13 and a beta of 1.04. FirstService Co. has a 1 year low of $141.26 and a 1 year high of $197.84. 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 business has a fifty day simple moving average of $169.74 and a two-hundred day simple moving average of $178.33.
FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.08. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.28 billion. FirstService had a return on equity of 17.15% and a net margin of 2.58%. The business's revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $0.67 EPS. Sell-side analysts anticipate that FirstService Co. will post 5.27 EPS for the current year.
FirstService Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 30th will be issued a $0.275 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.10 dividend on an annualized basis and a yield of 0.63%. FirstService's dividend payout ratio is presently 38.06%.
About FirstService
(
Free Report)
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.
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