Cubist Systematic Strategies LLC Acquires 8,520 Shares of FirstService Corporation $FSV

Key Points

• Cubist Systematic Strategies LLC has increased its ownership of FirstService Corporation (NASDAQ: FSV) by 153.3%, acquiring an additional 8,520 shares and bringing its total holdings to 14,078 shares valued at approximately $2.34 million.
• FirstService reported $1.71 EPS for the latest quarter, exceeding analyst expectations of $1.45, with revenue up 9.1% year-over-year at $1.42 billion.
• Analyst opinions are mixed; Scotiabank upgraded its price target to $220.00, while the consensus rating for FirstService is a "Moderate Buy" with an average target price of $217.75.

Cubist Systematic Strategies LLC raised its holdings in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 153.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,078 shares of the financial services provider's stock after acquiring an additional 8,520 shares during the quarter. Cubist Systematic Strategies LLC's holdings in FirstService were worth $2,337,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. TCTC Holdings LLC grew its stake in shares of FirstService by 155.2% in the 1st quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock valued at $28,000 after buying an additional 104 shares in the last quarter. Spire Wealth Management grew its stake in shares of FirstService by 52.1% in the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock valued at $90,000 after buying an additional 186 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of FirstService in the 1st quarter valued at approximately $90,000. State of Wyoming acquired a new stake in FirstService in the 4th quarter worth approximately $101,000. Finally, Fifth Third Bancorp lifted its holdings in FirstService by 23.0% in the 1st quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock worth $128,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Price Performance

Shares of NASDAQ:FSV traded down $4.02 during midday trading on Friday, reaching $204.41. The company's stock had a trading volume of 71,409 shares, compared to its average volume of 73,363. FirstService Corporation has a fifty-two week low of $153.13 and a fifty-two week high of $209.66. The company has a market capitalization of $9.31 billion, a P/E ratio of 65.52 and a beta of 0.96. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.76 and a quick ratio of 1.76. The business's fifty day simple moving average is $193.91 and its 200-day simple moving average is $179.85.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.26. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. FirstService had a return on equity of 18.24% and a net margin of 2.61%.The firm's quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $1.36 earnings per share. As a group, equities research analysts expect that FirstService Corporation will post 5.27 EPS for the current fiscal year.

FirstService Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.275 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.10 dividend on an annualized basis and a yield of 0.5%. FirstService's dividend payout ratio (DPR) is 35.26%.

Analysts Set New Price Targets

Several research firms recently weighed in on FSV. TD Securities restated a "hold" rating on shares of FirstService in a report on Thursday, September 4th. Wall Street Zen upgraded FirstService from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. Finally, Scotiabank upped their price target on FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, FirstService currently has a consensus rating of "Moderate Buy" and a consensus target price of $217.75.

FirstService Company 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.