First Trust Advisors LP purchased a new position in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,443 shares of the financial services provider's stock, valued at approximately $442,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of FirstService in the third quarter worth $53,000. Harbor Capital Advisors Inc. raised its holdings in FirstService by 253.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 19,351 shares of the financial services provider's stock worth $3,503,000 after buying an additional 13,876 shares during the last quarter. JCIC Asset Management Inc. bought a new stake in FirstService during the 4th quarter valued at $3,999,000. Argent Capital Management LLC boosted its position in FirstService by 16.0% during the fourth quarter. Argent Capital Management LLC now owns 33,406 shares of the financial services provider's stock valued at $6,047,000 after buying an additional 4,611 shares during the period. Finally, Avanza Fonder AB purchased a new position in FirstService in the fourth quarter worth about $453,000. 69.35% of the stock is currently owned by hedge funds and other institutional investors.
FirstService Stock Down 0.6%
FirstService stock traded down $1.11 during midday trading on Tuesday, hitting $175.15. 75,674 shares of the stock were exchanged, compared to its average volume of 109,397. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.79. FirstService Co. has a 1 year low of $141.26 and a 1 year high of $197.84. The company has a 50 day moving average price of $169.49 and a two-hundred day moving average price of $178.48. The firm has a market cap of $7.96 billion, a P/E ratio of 58.97 and a beta of 1.04.
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 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.08. The firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.28 billion. FirstService had a net margin of 2.58% and a return on equity of 17.15%. The company'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. On average, sell-side analysts predict that FirstService Co. will post 5.27 earnings per share for the current fiscal year.
FirstService Announces Dividend
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 $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Monday, June 30th. FirstService's dividend payout ratio is presently 38.06%.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Scotiabank reduced their price objective on FirstService from $217.50 to $210.00 and set a "sector perform" rating on the stock in a report on Thursday, April 17th. StockNews.com cut FirstService from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Raymond James upped their target price on shares of FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, TD Securities lifted their target price on shares of FirstService from $198.00 to $200.00 and gave the stock a "hold" rating in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $206.33.
View Our Latest Research Report on FirstService
About FirstService
(
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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