Baron Silver Stevens Financial Advisors LLC acquired a new stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 233 shares of the financial services provider’s stock, valued at approximately $31,000.
Other large investors also recently added to or reduced their stakes in the company. LPL Financial LLC acquired a new position in shares of FirstService during the 3rd quarter worth about $279,000. UBS Asset Management Americas Inc. boosted its stake in FirstService by 16.6% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 41,360 shares of the financial services provider’s stock worth $5,441,000 after acquiring an additional 5,900 shares during the last quarter. Morgan Stanley grew its holdings in FirstService by 132.7% during the third quarter. Morgan Stanley now owns 455,943 shares of the financial services provider’s stock valued at $60,135,000 after purchasing an additional 260,021 shares during the period. Great West Life Assurance Co. Can grew its holdings in FirstService by 0.5% during the third quarter. Great West Life Assurance Co. Can now owns 136,829 shares of the financial services provider’s stock valued at $18,075,000 after purchasing an additional 632 shares during the period. Finally, Schwartz Investment Counsel Inc. increased its stake in FirstService by 50.0% in the third quarter. Schwartz Investment Counsel Inc. now owns 7,500 shares of the financial services provider’s stock valued at $989,000 after purchasing an additional 2,500 shares in the last quarter. 69.48% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on FSV shares. TD Securities boosted their price target on shares of FirstService from $150.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 12th. Zacks Investment Research raised FirstService from a “hold” rating to a “buy” rating and set a $166.00 target price for the company in a research note on Monday, March 8th. Raymond James increased their price target on FirstService from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, February 10th. Finally, Royal Bank of Canada lifted their price objective on FirstService from $135.00 to $160.00 and gave the company a “sector perform” rating in a report on Wednesday, February 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $148.50.
FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Monday, February 8th. The financial services provider reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.21. The company had revenue of $775.10 million during the quarter, compared to analysts’ expectations of $715.46 million. FirstService had a return on equity of 13.48% and a net margin of 2.64%. FirstService’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. On average, analysts forecast that FirstService Co. will post 1.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 7th. Shareholders of record on Wednesday, March 31st were given a dividend of $0.1825 per share. The ex-dividend date was Tuesday, March 30th. This represents a $0.73 dividend on an annualized basis and a yield of 0.48%. This is an increase from FirstService’s previous quarterly dividend of $0.17. FirstService’s dividend payout ratio is -10.14%.
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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