Harbor Capital Advisors Inc. Acquires 3,754 Shares of FirstService Co. (NASDAQ:FSV)

Harbor Capital Advisors Inc. lifted its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 218.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,475 shares of the financial services provider’s stock after buying an additional 3,754 shares during the period. Harbor Capital Advisors Inc.’s holdings in FirstService were worth $999,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in FSV. Blue Trust Inc. increased its stake in FirstService by 8,066.7% during the second quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 242 shares during the last quarter. Benjamin Edwards Inc. increased its position in shares of FirstService by 35.0% during the 2nd quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 91 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in FirstService by 49.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock valued at $63,000 after buying an additional 138 shares during the period. First Horizon Advisors Inc. boosted its stake in FirstService by 40.6% during the second quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock worth $74,000 after buying an additional 141 shares during the period. Finally, Fifth Third Bancorp increased its position in FirstService by 20.5% during the second quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 108 shares during the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FSV shares. TD Securities raised their target price on shares of FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada upped their target price on FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Scotiabank raised their price target on FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus boosted their price objective on FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a report on Monday, October 21st. Two equities research 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 a consensus rating of “Moderate Buy” and an average price target of $198.33.

FirstService Stock Down 0.8 %

Shares of NASDAQ:FSV opened at $186.39 on Thursday. The business’s 50 day moving average is $182.78 and its 200 day moving average is $166.53. The stock has a market cap of $8.41 billion, a P/E ratio of 77.66 and a beta of 1.05. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.21. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company earned $1.18 EPS. The business’s revenue was up 25.0% compared to the same quarter last year. Sell-side analysts predict that FirstService Co. will post 4.58 EPS for the current year.

FirstService Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 0.54%. FirstService’s dividend payout ratio is currently 41.67%.

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.