Stifel Financial Corp Buys 8,348 Shares of FirstService Co. (NASDAQ:FSV)

Stifel Financial Corp lifted its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 65.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,103 shares of the financial services provider’s stock after buying an additional 8,348 shares during the quarter. Stifel Financial Corp’s holdings in FirstService were worth $3,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of FSV. Quantinno Capital Management LP raised its holdings in FirstService by 13.2% in the third quarter. Quantinno Capital Management LP now owns 13,364 shares of the financial services provider’s stock worth $2,438,000 after purchasing an additional 1,557 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of FirstService by 2,920.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 15,100 shares of the financial services provider’s stock worth $2,755,000 after acquiring an additional 14,600 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of FirstService by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 109,556 shares of the financial services provider’s stock worth $19,991,000 after acquiring an additional 384 shares in the last quarter. HighTower Advisors LLC lifted its position in FirstService by 3.5% during the 3rd quarter. HighTower Advisors LLC now owns 2,932 shares of the financial services provider’s stock valued at $533,000 after acquiring an additional 98 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in FirstService by 9.4% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 87,852 shares of the financial services provider’s stock worth $16,050,000 after acquiring an additional 7,528 shares in the last quarter. 69.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FSV. TD Securities lifted their target price on shares of FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a report on Thursday, October 17th. StockNews.com upgraded FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Scotiabank raised their price target on FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a report on Tuesday, October 15th. Finally, Stifel Nicolaus upped their price target 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, FirstService has an average rating of “Moderate Buy” and an average price target of $198.33.

FirstService Trading Down 0.5 %

Shares of NASDAQ:FSV opened at $187.02 on Tuesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.79 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 market cap of $8.46 billion, a P/E ratio of 77.93 and a beta of 1.04. The stock’s fifty day moving average price is $188.64 and its 200-day moving average price is $174.91.

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

FirstService Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Tuesday, December 31st. FirstService’s dividend payout ratio (DPR) is presently 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.