Point72 Asset Management L.P. raised its position in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 2,920.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,100 shares of the financial services provider's stock after purchasing an additional 14,600 shares during the quarter. Point72 Asset Management L.P.'s holdings in FirstService were worth $2,755,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in 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 during the period. Benjamin Edwards Inc. grew its position in FirstService by 35.0% in the 2nd 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 period. Benjamin F. Edwards & Company Inc. increased its stake in FirstService by 49.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider's stock valued at $63,000 after purchasing an additional 138 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of FirstService in the third quarter valued at $66,000. Finally, First Horizon Advisors Inc. raised 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. 69.35% of the stock is owned by institutional investors and hedge funds.
FirstService Stock Performance
Shares of NASDAQ:FSV traded down $0.95 during mid-day trading on Tuesday, reaching $190.88. The company had a trading volume of 28,437 shares, compared to its average volume of 83,309. The company's 50-day moving average price is $187.60 and its 200-day moving average price is $173.29. FirstService Co. has a one year low of $141.26 and a one year high of $197.84. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of 79.93 and a beta of 1.04. 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 - Get Free Report) TSE: FSV last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.21. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company earned $1.18 EPS. The firm's quarterly revenue was up 25.0% compared to the same quarter last year. As a group, equities research analysts anticipate that FirstService Co. will post 4.58 EPS for the current fiscal year.
FirstService Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.52%. The ex-dividend date is Tuesday, December 31st. FirstService's dividend payout ratio (DPR) is presently 41.67%.
Analysts Set New Price Targets
FSV has been the topic of several analyst reports. TD Securities lifted their target price on FirstService from $179.00 to $182.00 and gave the company a "hold" rating in a research report on Thursday, October 17th. Scotiabank upped their price objective on shares of FirstService from $190.00 to $200.00 and gave the stock a "sector perform" rating in a research report on Tuesday, October 15th. Stifel Nicolaus lifted their target price 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. Finally, StockNews.com raised FirstService from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $198.33.
View Our Latest Stock Analysis on FSV
FirstService Profile
(
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. 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.
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