Franklin Resources Inc. Has $87.31 Million Stake in FirstService Co. (NASDAQ:FSV)

Franklin Resources Inc. lifted its position in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 486.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 469,141 shares of the financial services provider's stock after buying an additional 389,129 shares during the period. Franklin Resources Inc. owned approximately 1.04% of FirstService worth $87,308,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in FirstService by 6.8% during the second quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider's stock worth $415,427,000 after buying an additional 174,970 shares in the last quarter. Conestoga Capital Advisors LLC increased its stake in FirstService by 1.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,449,933 shares of the financial services provider's stock worth $264,555,000 after purchasing an additional 23,082 shares in the last quarter. William Blair Investment Management LLC raised its holdings in FirstService by 0.8% during the 2nd quarter. William Blair Investment Management LLC now owns 861,871 shares of the financial services provider's stock worth $131,323,000 after buying an additional 6,863 shares during the period. Renaissance Technologies LLC raised its holdings in FirstService by 3.4% during the 2nd quarter. Renaissance Technologies LLC now owns 643,388 shares of the financial services provider's stock worth $98,033,000 after buying an additional 21,100 shares during the period. Finally, Bank of Montreal Can lifted its stake in FirstService by 19.7% during 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 buying an additional 63,807 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company's stock.

FirstService Stock Down 0.5 %

Shares of FirstService stock traded down $1.03 on Monday, hitting $187.02. 121,295 shares of the company traded hands, compared to its average volume of 84,044. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.13. FirstService Co. has a 12-month low of $141.26 and a 12-month high of $197.84. The company has a 50-day moving average price of $188.64 and a 200 day moving average price of $174.91. The company has a market cap of $8.46 billion, a PE ratio of 77.93 and a beta of 1.04.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its 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. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.32 billion. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The business's revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 EPS. Sell-side analysts predict that FirstService Co. will post 4.58 earnings per share for the current year.

FirstService Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.53%. FirstService's dividend payout ratio is currently 41.67%.

Wall Street Analysts Forecast Growth

FSV has been the topic of several analyst reports. 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. TD Securities boosted their target price on shares of FirstService from $179.00 to $182.00 and gave the company a "hold" rating in a research note on Thursday, October 17th. Scotiabank raised their target price on FirstService from $190.00 to $200.00 and gave the stock a "sector perform" rating in a research report on Tuesday, October 15th. Finally, StockNews.com raised FirstService from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.