Cubist Systematic Strategies LLC Increases Stake in FirstService Co. (NASDAQ:FSV)

Cubist Systematic Strategies LLC raised its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 33.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,253 shares of the financial services provider’s stock after buying an additional 4,318 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in FirstService were worth $2,628,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of FirstService by 4.8% during the first quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock worth $274,363,000 after purchasing an additional 76,503 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of FirstService by 3.2% during the second quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider’s stock worth $217,409,000 after purchasing an additional 44,236 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of FirstService by 0.8% during the second quarter. William Blair Investment Management LLC now owns 861,871 shares of the financial services provider’s stock worth $131,323,000 after purchasing an additional 6,863 shares in the last quarter. Renaissance Technologies LLC lifted its position in FirstService by 3.4% in the 2nd quarter. Renaissance Technologies LLC now owns 643,388 shares of the financial services provider’s stock worth $98,033,000 after buying an additional 21,100 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in FirstService by 1.6% in the 4th quarter. CIBC Asset Management Inc now owns 520,447 shares of the financial services provider’s stock worth $84,579,000 after buying an additional 8,432 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on FSV shares. Scotiabank boosted their price objective on FirstService from $175.00 to $190.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. BMO Capital Markets increased their target price on FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a report on Friday, June 7th. TD Securities increased their target price on FirstService from $178.00 to $179.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Royal Bank of Canada increased their target price on FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, FirstService presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.50.

FirstService Stock Down 0.5 %

NASDAQ FSV opened at $180.36 on Monday. The stock’s 50-day moving average price is $175.57 and its 200-day moving average price is $161.78. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.23. FirstService Co. has a 52 week low of $134.77 and a 52 week high of $183.86. The company has a market capitalization of $8.11 billion, a P/E ratio of 89.29 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.36 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $1.28 billion. During the same quarter last year, the company earned $1.37 earnings per share. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, equities research analysts predict that FirstService Co. will post 4.35 earnings per share for the current year.

FirstService Dividend Announcement

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

FirstService Company 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.