Raymond James & Associates Has $19.24 Million Position in FirstService Co. (NASDAQ:FSV)

Raymond James & Associates lifted its position in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 118,713 shares of the financial services provider's stock after buying an additional 6,895 shares during the quarter. Raymond James & Associates owned approximately 0.27% of FirstService worth $19,242,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinebridge Investments L.P. purchased a new stake in shares of FirstService in the 2nd quarter valued at $61,000. Exchange Traded Concepts LLC grew its stake in FirstService by 126.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 392 shares of the financial services provider's stock worth $57,000 after purchasing an additional 219 shares in the last quarter. Power Corp of Canada acquired a new position in shares of FirstService during the 1st quarter worth about $60,000. Signaturefd LLC boosted its position in shares of FirstService by 28.5% during the 3rd quarter. Signaturefd LLC now owns 500 shares of the financial services provider's stock worth $73,000 after acquiring an additional 111 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of FirstService during the 3rd quarter worth about $85,000. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Price Performance

NASDAQ:FSV traded down $3.31 during trading hours on Tuesday, reaching $161.56. 47,151 shares of the company traded hands, compared to its average volume of 73,974. The firm's 50-day moving average is $166.26 and its 200-day moving average is $157.66. The stock has a market cap of $7.27 billion, a P/E ratio of 72.11 and a beta of 0.97. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.82 and a quick ratio of 1.82. FirstService Co. has a 1-year low of $134.77 and a 1-year high of $171.94.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.04). FirstService had a return on equity of 17.56% and a net margin of 2.32%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. Equities research analysts expect that FirstService Co. will post 4.69 earnings per share for the current fiscal year.

FirstService Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.25 per share. This is a boost from FirstService's previous quarterly dividend of $0.23. The ex-dividend date is Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 0.62%. FirstService's dividend payout ratio (DPR) is 44.64%.

Analyst Upgrades and Downgrades

FSV has been the subject of a number of research analyst reports. StockNews.com cut FirstService from a "buy" rating to a "hold" rating in a research report on Wednesday, February 7th. Royal Bank of Canada reissued an "outperform" rating and issued a $187.00 target price on shares of FirstService in a research report on Wednesday, February 7th. TheStreet cut FirstService from a "b-" rating to a "c" rating in a research report on Tuesday, February 6th. Raymond James upped their target price on FirstService from $185.00 to $205.00 and gave the company an "outperform" rating in a research report on Friday, January 26th. Finally, Scotiabank upped their target price on FirstService from $165.00 to $166.00 and gave the company a "sector outperform" rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, FirstService has an average rating of "Moderate Buy" and a consensus target price of $177.29.

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.