Empowered Funds LLC Purchases 1,935 Shares of FirstService Co. (NASDAQ:FSV)

Empowered Funds LLC lifted its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 24.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,732 shares of the financial services provider’s stock after acquiring an additional 1,935 shares during the period. Empowered Funds LLC’s holdings in FirstService were worth $1,776,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. increased its stake in shares of FirstService by 8,066.7% in the 2nd quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock valued at $41,000 after buying an additional 242 shares during the period. Benjamin Edwards Inc. raised its holdings in shares of FirstService by 35.0% during the second quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 91 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of FirstService by 49.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 138 shares during the period. Venturi Wealth Management LLC bought a new stake in FirstService in the 3rd quarter valued at approximately $66,000. Finally, First Horizon Advisors Inc. lifted its position in shares of FirstService by 40.6% in the second quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 141 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

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

FirstService Trading Up 1.3 %

NASDAQ FSV opened at $188.44 on Thursday. The business’s fifty day moving average is $184.38 and its 200-day moving average is $169.06. 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 one year low of $141.26 and a one year high of $192.71. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 78.52 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the business earned $1.18 EPS. FirstService’s revenue was up 25.0% compared to the same quarter last year. Equities research analysts predict that FirstService Co. will post 4.58 EPS for the current year.

FirstService Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Monday, September 30th. FirstService’s dividend payout ratio is currently 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.