Bristol Gate Capital Partners Inc. Boosts Holdings in FirstService Co. (NASDAQ:FSV)

Bristol Gate Capital Partners Inc. raised its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 12.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,806 shares of the financial services provider’s stock after buying an additional 652 shares during the quarter. Bristol Gate Capital Partners Inc.’s holdings in FirstService were worth $883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Accent Capital Management LLC bought a new stake in shares of FirstService in the fourth quarter worth about $40,000. Blue Trust Inc. raised its holdings in shares of FirstService by 8,066.7% during the 2nd quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 242 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in shares of FirstService by 25.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 75 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of FirstService by 40.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 141 shares during the last quarter. Finally, Security National Bank purchased a new position in shares of FirstService in the fourth quarter valued at $90,000. 69.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FSV. BMO Capital Markets upped their price target on shares of FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. TD Securities upped their target price on shares of FirstService from $178.00 to $179.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Royal Bank of Canada lifted their price target on FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Scotiabank boosted their price objective on FirstService from $175.00 to $190.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $189.50.

FirstService Stock Performance

Shares of NASDAQ:FSV opened at $180.38 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 89.30 and a beta of 1.05. FirstService Co. has a 12 month low of $134.77 and a 12 month high of $182.88. The firm’s 50-day moving average is $173.44 and its 200 day moving average is $161.19.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Thursday, July 25th. The financial services provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.10. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm posted $1.37 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. Research analysts predict that FirstService Co. will post 4.32 EPS for the current year.

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 30th will be paid a $0.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. FirstService’s payout ratio is 49.50%.

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.