Lazard Asset Management LLC bought a new position in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,614 shares of the financial services provider's stock, valued at approximately $654,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of FirstService by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 1,794,676 shares of the financial services provider's stock valued at $325,100,000 after purchasing an additional 23,103 shares in the last quarter. FIL Ltd boosted its holdings in shares of 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 holdings in shares of FirstService by 53.9% during 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 in the last quarter. Franklin Resources Inc. grew its position in shares of FirstService by 18.5% in the 4th quarter. Franklin Resources Inc. now owns 556,050 shares of the financial services provider's stock worth $100,632,000 after buying an additional 86,909 shares during the period. Finally, Norges Bank bought a new position in shares of FirstService in the 4th quarter worth about $98,615,000. Hedge funds and other institutional investors own 69.35% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on FSV shares. StockNews.com cut shares of FirstService from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Scotiabank cut their price target on 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 lifted their price objective on 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 boosted their target price on FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, FirstService presently has a consensus rating of "Moderate Buy" and an average price target of $206.33.
View Our Latest Report on FSV
FirstService Price Performance
Shares of FSV opened at $176.34 on Wednesday. The company has a market capitalization of $8.01 billion, a P/E ratio of 59.37 and a beta of 1.04. FirstService Co. has a twelve month low of $141.26 and a twelve month 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 firm has a 50 day moving average of $170.52 and a 200 day moving average of $178.01.
FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.08. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.28 billion. FirstService had a return on equity of 17.15% and a net margin of 2.58%. The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 EPS. As a group, equities research analysts anticipate 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 dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 0.62%. The ex-dividend date is Monday, June 30th. FirstService's dividend payout ratio is currently 38.06%.
FirstService Company Profile
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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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