Avanza Fonder AB Increases Stake in FirstService Co. (NASDAQ:FSV)

Avanza Fonder AB lifted its stake in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 100.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 5,000 shares of the financial services provider's stock after acquiring an additional 2,500 shares during the period. Avanza Fonder AB's holdings in FirstService were worth $830,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Natixis grew its position in FirstService by 5,511.1% during the fourth quarter. Natixis now owns 505 shares of the financial services provider's stock valued at $91,000 after acquiring an additional 496 shares during the last quarter. State of Wyoming purchased a new stake in shares of FirstService in the 4th quarter valued at $101,000. Gitterman Wealth Management LLC bought a new position in shares of FirstService during the 4th quarter valued at $201,000. Two Sigma Advisers LP purchased a new position in FirstService in the 4th quarter worth $201,000. Finally, Versant Capital Management Inc raised its position in FirstService by 716.4% in the 1st quarter. Versant Capital Management Inc now owns 1,298 shares of the financial services provider's stock worth $215,000 after purchasing an additional 1,139 shares during the period. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on FSV shares. Scotiabank cut their price target on shares of FirstService from $217.50 to $210.00 and set a "sector perform" rating for the company in a research report on Thursday, April 17th. TD Securities increased their target price on FirstService from $198.00 to $200.00 and gave the company a "hold" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen cut 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 three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $208.40.

FirstService Trading Down 0.9%

Shares of FSV stock traded down $1.59 during mid-day trading on Friday, reaching $176.74. The stock had a trading volume of 90,751 shares, compared to its average volume of 108,354. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09. The stock's 50-day moving average price is $173.07 and its two-hundred day moving average price is $176.62. The firm has a market capitalization of $8.03 billion, a PE ratio of 59.51 and a beta of 1.01. FirstService Co. has a 52-week low of $148.43 and a 52-week high of $197.84.

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. FirstService had a return on equity of 17.15% and a net margin of 2.58%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business earned $0.67 EPS. FirstService's revenue was up 8.0% compared to the same quarter last year. Equities analysts expect that FirstService Co. will post 5.27 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 30th will be issued 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 dividend payout ratio is presently 38.06%.

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.