JCIC Asset Management Inc. Acquires New Shares in FirstService Co. (NASDAQ:FSV)

JCIC Asset Management Inc. purchased a new stake in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 22,090 shares of the financial services provider's stock, valued at approximately $3,999,000. FirstService makes up approximately 1.6% of JCIC Asset Management Inc.'s investment portfolio, making the stock its 21st biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FSV. Versant Capital Management Inc purchased a new stake in shares of FirstService in the 4th quarter valued at about $29,000. Benjamin Edwards Inc. increased 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 worth $53,000 after buying an additional 91 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in FirstService during the third quarter worth approximately $53,000. Benjamin F. Edwards & Company Inc. lifted its stake in FirstService by 49.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider's stock valued at $63,000 after buying an additional 138 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in shares of FirstService in the third quarter valued at approximately $66,000. 69.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FSV. Stifel Nicolaus lifted their target price on shares of FirstService from $200.00 to $215.00 and gave the company a "buy" rating in a report on Monday, October 21st. Scotiabank lifted 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 increased their target price on shares of FirstService from $179.00 to $182.00 and gave the stock a "hold" rating in a research note on Thursday, October 17th. Finally, StockNews.com upgraded 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 given a buy rating to the company. According to data from MarketBeat.com, FirstService presently has an average rating of "Moderate Buy" and a consensus price target of $198.33.

FirstService Stock Performance

Shares of NASDAQ:FSV traded up $0.74 during midday trading on Monday, hitting $175.35. The stock had a trading volume of 353,517 shares, compared to its average volume of 130,317. The company has a market capitalization of $7.94 billion, a PE ratio of 73.06 and a beta of 1.06. FirstService Co. has a 1 year low of $141.26 and a 1 year high of $197.84. The stock has a 50 day moving average price of $186.73 and a two-hundred day moving average price of $178.97. 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 announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates 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 firm's revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.18 EPS. As a group, equities analysts predict that FirstService Co. will post 4.58 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 31st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Tuesday, December 31st. FirstService's payout ratio is 41.67%.

FirstService Company 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.