FirstService Co. (NASDAQ:FSV) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank increased its stake in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 27.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,207 shares of the financial services provider's stock after buying an additional 15,165 shares during the quarter. Toronto Dominion Bank owned about 0.16% of FirstService worth $12,810,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in FSV. Bank of Montreal Can boosted its holdings in FirstService by 19.7% in the third quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider's stock valued at $69,992,000 after purchasing an additional 63,807 shares during the last quarter. Amica Mutual Insurance Co. lifted its holdings in shares of FirstService by 99.9% in the 2nd quarter. Amica Mutual Insurance Co. now owns 9,908 shares of the financial services provider's stock valued at $1,510,000 after buying an additional 4,952 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of FirstService by 8.2% in the second quarter. Envestnet Asset Management Inc. now owns 193,129 shares of the financial services provider's stock worth $29,427,000 after buying an additional 14,579 shares during the last quarter. William Blair Investment Management LLC grew its holdings in FirstService by 0.8% during the second quarter. William Blair Investment Management LLC now owns 861,871 shares of the financial services provider's stock worth $131,323,000 after acquiring an additional 6,863 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in FirstService by 33.4% during the second quarter. Cubist Systematic Strategies LLC now owns 17,253 shares of the financial services provider's stock valued at $2,628,000 after acquiring an additional 4,318 shares in the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on FSV. StockNews.com upgraded FirstService from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. TD Securities increased their price target on shares of FirstService from $179.00 to $182.00 and gave the stock a "hold" rating in a report on Thursday, October 17th. Stifel Nicolaus raised their price target on shares of FirstService from $200.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Finally, 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, FirstService presently has a consensus rating of "Moderate Buy" and an average price target of $198.33.

FirstService Price Performance

NASDAQ:FSV traded down $2.39 during trading hours on Friday, reaching $188.05. 109,529 shares of the company were exchanged, compared to its average volume of 83,791. The stock's 50-day moving average is $188.43 and its 200-day moving average is $174.37. FirstService Co. has a twelve month low of $141.26 and a twelve month high of $197.84. The firm has a market cap of $8.51 billion, a PE ratio of 78.35 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 released 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 net margin of 2.19% and a return on equity of 16.68%. The firm 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 firm earned $1.18 EPS. The company's revenue for the quarter was up 25.0% on a year-over-year basis. On average, sell-side analysts anticipate that FirstService Co. will post 4.58 earnings per share for the current fiscal year.

FirstService Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Tuesday, December 31st. FirstService's payout ratio is 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.