Private Advisor Group LLC Acquires New Position in FirstService Co. (NASDAQ:FSV)

Private Advisor Group LLC acquired a new position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,207 shares of the financial services provider’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its position in FirstService by 103.1% during the first quarter. BNP Paribas Financial Markets now owns 15,790 shares of the financial services provider’s stock worth $2,618,000 after purchasing an additional 8,017 shares in the last quarter. Empowered Funds LLC boosted its position in shares of FirstService by 9.8% in the 1st quarter. Empowered Funds LLC now owns 7,238 shares of the financial services provider’s stock worth $1,200,000 after buying an additional 645 shares in the last quarter. Hilltop National Bank acquired a new stake in FirstService in the 1st quarter valued at about $190,000. Fiduciary Family Office LLC increased its holdings in FirstService by 16.5% during the 1st quarter. Fiduciary Family Office LLC now owns 2,994 shares of the financial services provider’s stock valued at $496,000 after acquiring an additional 424 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in FirstService by 21.5% during the first quarter. Russell Investments Group Ltd. now owns 20,592 shares of the financial services provider’s stock worth $3,414,000 after acquiring an additional 3,644 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FSV. Stifel Nicolaus raised their price objective on shares of FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. TD Securities increased their target price on FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Royal Bank of Canada boosted their price target on FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. StockNews.com raised FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Scotiabank lifted their price objective on FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $198.33.

FirstService Price Performance

FSV stock opened at $187.64 on Friday. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 78.18 and a beta of 1.05. The stock’s fifty day simple moving average is $182.99 and its 200-day simple moving average is $166.68. FirstService Co. has a 52-week low of $141.26 and a 52-week high of $192.71. The company has a quick ratio of 1.84, a current ratio of 1.79 and a debt-to-equity ratio of 1.13.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 EPS for the quarter, beating the consensus estimate of $1.42 by $0.21. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.32 billion. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The firm’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 EPS. Equities research analysts expect that FirstService Co. will post 4.58 EPS for the current year.

FirstService Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, September 30th. FirstService’s dividend payout ratio (DPR) is 41.67%.

About FirstService

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.