Vanguard Group Inc. Has $230.29 Million Stock Position in FirstService Co. (NASDAQ:FSV)

Vanguard Group Inc. increased its position in shares of FirstService Co. (NASDAQ:FSVFree Report) (TSE:FSV) by 1.9% during the third quarter, Holdings Channel reports. The institutional investor owned 1,582,337 shares of the financial services provider’s stock after purchasing an additional 29,482 shares during the period. Vanguard Group Inc.’s holdings in FirstService were worth $230,293,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in shares of FirstService in the third quarter worth approximately $310,000. American Century Companies Inc. raised its stake in shares of FirstService by 7.8% in the third quarter. American Century Companies Inc. now owns 462,391 shares of the financial services provider’s stock worth $67,267,000 after purchasing an additional 33,438 shares during the last quarter. Creative Planning raised its stake in shares of FirstService by 17.7% in the third quarter. Creative Planning now owns 2,152 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 324 shares during the last quarter. Morgan Stanley raised its stake in shares of FirstService by 7.2% in the third quarter. Morgan Stanley now owns 355,799 shares of the financial services provider’s stock worth $51,783,000 after purchasing an additional 23,872 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of FirstService by 8.2% in the third quarter. Royal Bank of Canada now owns 699,088 shares of the financial services provider’s stock worth $101,744,000 after purchasing an additional 53,041 shares during the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

FirstService Price Performance

Shares of NASDAQ FSV opened at $165.80 on Friday. The stock has a fifty day simple moving average of $166.24 and a two-hundred day simple moving average of $157.54. FirstService Co. has a 1-year low of $134.77 and a 1-year high of $171.94. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 74.02 and a beta of 0.98. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.15.

FirstService (NASDAQ:FSVGet Free Report) (TSE:FSV) last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.04). FirstService had a net margin of 2.32% and a return on equity of 17.56%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. Analysts anticipate that FirstService Co. will post 4.69 earnings per share for the current year.

FirstService Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.60%. This is a positive change from FirstService’s previous quarterly dividend of $0.23. The ex-dividend date is Wednesday, March 27th. FirstService’s dividend payout ratio is 44.64%.

Analyst Upgrades and Downgrades

FSV has been the subject of several analyst reports. Scotiabank increased their price objective on FirstService from $165.00 to $166.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, February 7th. BMO Capital Markets decreased their price target on FirstService from $196.00 to $193.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $187.00 price target on shares of FirstService in a research report on Wednesday, February 7th. StockNews.com downgraded FirstService from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Finally, TheStreet downgraded FirstService from a “b-” rating to a “c” rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $177.29.

Check Out Our Latest Report on FirstService

About FirstService

(Free Report)

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. The company operates in two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment offers property management 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.

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Institutional Ownership by Quarter for FirstService (NASDAQ:FSV)

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