BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 6,990 Shares of FirstService Co. (NASDAQ:FSV)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 8.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,842 shares of the financial services provider's stock after acquiring an additional 6,990 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.21% of FirstService worth $17,158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FSV. Voloridge Investment Management LLC increased its position in FirstService by 20.1% in the fourth quarter. Voloridge Investment Management LLC now owns 58,213 shares of the financial services provider's stock worth $10,538,000 after buying an additional 9,752 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in FirstService in the fourth quarter worth $201,000. Two Sigma Investments LP increased its position in FirstService by 173.9% in the fourth quarter. Two Sigma Investments LP now owns 5,380 shares of the financial services provider's stock worth $974,000 after buying an additional 3,416 shares during the last quarter. State of Wyoming purchased a new stake in FirstService in the fourth quarter worth $101,000. Finally, Snowden Capital Advisors LLC increased its position in FirstService by 6.5% in the fourth quarter. Snowden Capital Advisors LLC now owns 2,473 shares of the financial services provider's stock worth $448,000 after buying an additional 151 shares during the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FSV has been the subject of a number of recent research reports. Raymond James raised their target price on FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Scotiabank reduced their price target on FirstService from $217.50 to $210.00 and set a "sector perform" rating for the company in a research report on Thursday, April 17th. Wall Street Zen cut FirstService from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, TD Securities lifted their price target on FirstService from $198.00 to $200.00 and gave the company a "hold" rating in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, FirstService has a consensus rating of "Moderate Buy" and an average target price of $206.33.

FirstService Stock Performance

Shares of NASDAQ FSV traded up $0.70 during mid-day trading on Friday, hitting $173.06. The company had a trading volume of 66,298 shares, compared to its average volume of 109,952. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 58.27 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 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 $170.85 and its 200-day moving average price is $177.71.

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 for the quarter, beating the consensus estimate of $0.84 by $0.08. The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.28 billion. FirstService had a return on equity of 17.15% and a net margin of 2.58%. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 earnings per share. On average, sell-side analysts forecast that FirstService Co. will post 5.27 earnings per share for the current year.

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 30th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Monday, June 30th. FirstService's dividend payout ratio is 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.