Parr Mcknight Wealth Management Group LLC Buys New Holdings in FirstService Co. (NASDAQ:FSV)

Parr Mcknight Wealth Management Group LLC purchased a new position in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,690 shares of the financial services provider's stock, valued at approximately $1,211,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of FirstService during the fourth quarter valued at approximately $98,615,000. Raymond James Financial Inc. bought a new position in shares of FirstService during the fourth quarter valued at approximately $48,541,000. Price T Rowe Associates Inc. MD raised its holdings in shares of FirstService by 53.9% during the fourth 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 acquiring an additional 229,889 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of FirstService by 57.4% during the fourth quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider's stock valued at $83,138,000 after acquiring an additional 166,996 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of FirstService by 36.2% during the fourth quarter. American Century Companies Inc. now owns 543,163 shares of the financial services provider's stock valued at $98,380,000 after acquiring an additional 144,234 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Raymond James increased their price objective on FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. TD Securities increased their price objective on FirstService from $198.00 to $200.00 and gave the company a "hold" rating in a research report on Wednesday, May 7th. Wall Street Zen cut FirstService from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Scotiabank lowered their target price on FirstService from $217.50 to $210.00 and set a "sector perform" rating on the stock in a report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, FirstService currently has an average rating of "Moderate Buy" and a consensus target price of $206.33.

FirstService Stock Performance

Shares of NASDAQ FSV traded down $0.05 during trading on Thursday, hitting $175.35. The company had a trading volume of 47,132 shares, compared to its average volume of 109,385. The stock has a 50 day simple moving average of $171.13 and a 200 day simple moving average of $177.51. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.79 and a current ratio of 1.75. FirstService Co. has a 12 month low of $141.26 and a 12 month high of $197.84. The firm has a market capitalization of $7.97 billion, a P/E ratio of 59.06 and a beta of 1.04.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.84 by $0.08. The firm 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 for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share. As a group, analysts anticipate that FirstService Co. will post 5.27 earnings per share for the current year.

FirstService Announces Dividend

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 paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Monday, June 30th. FirstService's dividend payout ratio (DPR) is presently 38.06%.

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.