Private Advisor Group LLC Acquires Shares of 1,207 FirstService Co. (NASDAQ:FSV)

Private Advisor Group LLC bought a new position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,207 shares of the financial services provider’s stock, valued at approximately $220,000.

Several other large investors have also recently bought and sold shares of the business. Blue Trust Inc. boosted its position in shares of FirstService by 8,066.7% during the 2nd quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 242 shares in the last quarter. Benjamin Edwards Inc. increased its stake in FirstService by 35.0% in the second 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 second quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 138 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of FirstService by 40.6% during the 2nd 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 last quarter. Finally, Fifth Third Bancorp boosted 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 valued at $97,000 after buying an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Stock Performance

NASDAQ:FSV opened at $187.64 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.79 and a quick ratio of 1.84. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 78.18 and a beta of 1.05. The firm’s fifty day moving average price is $182.99 and its 200 day moving average price is $166.68. FirstService Co. has a 1-year low of $141.26 and a 1-year high of $192.71.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.21. The business 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 business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 earnings per share. On average, sell-side analysts expect that FirstService Co. will post 4.58 EPS for the current year.

FirstService Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, September 30th. FirstService’s dividend payout ratio (DPR) is 41.67%.

Analyst Ratings Changes

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

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.