Massachusetts Financial Services Co. MA Trims Stock Position in FirstService Co. (NASDAQ:FSV)

Massachusetts Financial Services Co. MA trimmed its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 1.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 127,230 shares of the financial services provider’s stock after selling 1,273 shares during the period. Massachusetts Financial Services Co. MA’s holdings in FirstService were worth $23,214,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Benjamin Edwards Inc. lifted its holdings in shares of FirstService by 35.0% in the 2nd 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 last quarter. Fifth Third Bancorp lifted its holdings in shares of FirstService by 20.5% in the 2nd quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 108 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings 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 worth $63,000 after acquiring an additional 138 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of FirstService by 40.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 141 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in FirstService by 3.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 4,048 shares of the financial services provider’s stock worth $616,000 after buying an additional 143 shares in the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Trading Up 2.4 %

Shares of NASDAQ:FSV opened at $197.05 on Tuesday. FirstService Co. has a 52 week low of $141.26 and a 52 week high of $197.84. The company’s 50 day moving average is $184.82 and its two-hundred day moving average is $169.77. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.13. The company has a market cap of $8.89 billion, a PE ratio of 82.10 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.21. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.32 billion. FirstService had a net margin of 2.19% and a return on equity of 16.68%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 EPS. Equities analysts predict that FirstService Co. will post 4.58 earnings per share for the current fiscal 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 given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, September 30th. FirstService’s dividend payout ratio (DPR) is 41.67%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FSV. 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 increased 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. Stifel Nicolaus increased their target price on shares of FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, StockNews.com upgraded shares of FirstService from a “hold” rating to a “buy” rating in a report 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $198.33.

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.