Two Sigma Investments LP Boosts Holdings in FirstService Co. (NASDAQ:FSV)

Two Sigma Investments LP grew its holdings in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 173.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,380 shares of the financial services provider's stock after acquiring an additional 3,416 shares during the quarter. Two Sigma Investments LP's holdings in FirstService were worth $974,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new stake in FirstService during the fourth quarter valued at about $98,615,000. Raymond James Financial Inc. purchased a new stake in FirstService during the 4th quarter valued at about $48,541,000. Price T Rowe Associates Inc. MD grew its position in 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 worth $118,767,000 after acquiring an additional 229,889 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of FirstService by 57.4% in the fourth quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider's stock worth $83,138,000 after buying an additional 166,996 shares during the period. Finally, American Century Companies Inc. raised its holdings in FirstService by 36.2% during the 4th quarter. American Century Companies Inc. now owns 543,163 shares of the financial services provider's stock valued at $98,380,000 after buying an additional 144,234 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Stock Up 0.7%

Shares of FSV stock traded up $1.25 during midday trading on Monday, reaching $177.32. 77,806 shares of the stock were exchanged, compared to its average volume of 108,248. FirstService Co. has a 1 year low of $148.43 and a 1 year high of $197.84. The firm has a market cap of $8.06 billion, a PE ratio of 59.70 and a beta of 1.01. The company's 50 day moving average is $172.02 and its two-hundred day moving average is $176.83. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its earnings results on Thursday, April 24th. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.08. FirstService had a net margin of 2.58% and a return on equity of 17.15%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm earned $0.67 EPS. The company's revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts predict that FirstService Co. will post 5.27 EPS for the current year.

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.275 per share. The ex-dividend date is Monday, June 30th. This represents a $1.10 annualized dividend and a dividend yield of 0.62%. FirstService's payout ratio is 38.06%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FSV. TD Securities upped their price objective on shares of FirstService from $198.00 to $200.00 and gave the company a "hold" rating in a research note on Wednesday, May 7th. Wall Street Zen lowered FirstService from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Scotiabank cut their price objective on FirstService from $217.50 to $210.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, FirstService currently has an average rating of "Moderate Buy" and an average price target of $208.40.

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.