MML Investors Services LLC Invests $262,000 in FirstService Co. (NASDAQ:FSV)

MML Investors Services LLC bought a new stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,436 shares of the financial services provider’s stock, valued at approximately $262,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of FSV. Wellington Management Group LLP lifted its stake in FirstService by 47.3% in the third quarter. Wellington Management Group LLP now owns 62,613 shares of the financial services provider’s stock worth $11,426,000 after acquiring an additional 20,097 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of FirstService by 65.4% in the 3rd quarter. Stifel Financial Corp now owns 21,103 shares of the financial services provider’s stock valued at $3,851,000 after purchasing an additional 8,348 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of FirstService by 13.2% during the 3rd 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 during the last quarter. Point72 Asset Management L.P. grew its stake in shares of FirstService by 2,920.0% during the third quarter. Point72 Asset Management L.P. now owns 15,100 shares of the financial services provider’s stock worth $2,755,000 after purchasing an additional 14,600 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in FirstService by 0.4% in the third quarter. Janus Henderson Group PLC now owns 109,556 shares of the financial services provider’s stock valued at $19,991,000 after buying an additional 384 shares during the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FSV has been the subject of several analyst reports. StockNews.com raised FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Stifel Nicolaus upped their price target on FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a report on Monday, October 21st. TD Securities raised their price objective on shares of FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Finally, Scotiabank upped their target price on shares of FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, FirstService currently has a consensus rating of “Moderate Buy” and an average price target of $198.33.

FirstService Stock Performance

Shares of FSV opened at $184.48 on Thursday. The company’s 50 day simple moving average is $188.48 and its 200-day simple moving average is $176.40. The firm has a market cap of $8.35 billion, a PE ratio of 76.87 and a beta of 1.04. FirstService Co. has a 12-month low of $141.26 and a 12-month high of $197.84. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.13.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm posted $1.18 EPS. FirstService’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, equities analysts predict that FirstService Co. will post 4.58 EPS for the current year.

FirstService Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.54%. The ex-dividend date is Tuesday, December 31st. FirstService’s dividend payout ratio is presently 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.