Geode Capital Management LLC Buys 10,213 Shares of FirstService Co. (NASDAQ:FSV)

Geode Capital Management LLC lifted its holdings in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,603 shares of the financial services provider's stock after purchasing an additional 10,213 shares during the quarter. Geode Capital Management LLC owned 0.53% of FirstService worth $45,144,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Benjamin Edwards Inc. raised its position in FirstService by 35.0% during 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 in the last quarter. Venturi Wealth Management LLC bought a new stake in FirstService in the 3rd quarter worth approximately $66,000. Benjamin F. Edwards & Company Inc. lifted its position in FirstService by 49.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider's stock worth $63,000 after buying an additional 138 shares during the last quarter. Fifth Third Bancorp boosted its stake in FirstService by 20.5% in the second quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider's stock worth $97,000 after buying an additional 108 shares in the last quarter. Finally, Signaturefd LLC grew its position in FirstService by 45.3% during the second quarter. Signaturefd LLC now owns 975 shares of the financial services provider's stock valued at $148,000 after acquiring an additional 304 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FSV. Scotiabank upped their price objective on shares of FirstService from $190.00 to $200.00 and gave the company a "sector perform" rating in a research note on Tuesday, October 15th. TD Securities raised their price objective on FirstService from $179.00 to $182.00 and gave the company a "hold" rating in a research note on Thursday, October 17th. Stifel Nicolaus increased their target price on FirstService from $200.00 to $215.00 and gave the company a "buy" rating in a report on Monday, October 21st. Finally, StockNews.com raised FirstService from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $198.33.

FirstService Trading Up 0.4 %

FSV stock traded up $0.77 on Tuesday, reaching $184.48. The company's stock had a trading volume of 107,518 shares, compared to its average volume of 85,087. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79. The business has a fifty day simple moving average of $188.54 and a two-hundred day simple moving average of $176.34. The firm has a market cap of $8.35 billion, a PE ratio of 76.87 and a beta of 1.04. FirstService Co. has a 12-month low of $141.26 and a 12-month high of $197.84.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.21. The company had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.32 billion. FirstService had a net margin of 2.19% and a return on equity of 16.68%. FirstService's quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.18 earnings per share. As a group, research analysts forecast that FirstService Co. will post 4.58 EPS for the current 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 paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 0.54%. 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.