JPMorgan Chase & Co. Boosts Stake in FirstService Co. (NASDAQ:FSV)

JPMorgan Chase & Co. raised its stake in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 5.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,776 shares of the financial services provider's stock after purchasing an additional 10,191 shares during the period. JPMorgan Chase & Co. owned about 0.44% of FirstService worth $36,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in FirstService by 486.3% in the third quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider's stock valued at $87,308,000 after purchasing an additional 389,129 shares during the last quarter. Millennium Management LLC grew its position in shares of FirstService by 2,136.1% in the 2nd quarter. Millennium Management LLC now owns 209,297 shares of the financial services provider's stock valued at $31,853,000 after buying an additional 199,937 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in FirstService by 6.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider's stock worth $415,427,000 after acquiring an additional 174,970 shares in the last quarter. Bank of Montreal Can lifted its position 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 acquiring an additional 63,807 shares during the last quarter. Finally, Boston Financial Mangement LLC boosted its stake in FirstService by 25.3% in the third quarter. Boston Financial Mangement LLC now owns 246,673 shares of the financial services provider's stock valued at $45,008,000 after acquiring an additional 49,790 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company's stock.

FirstService Stock Performance

Shares of FSV stock traded down $1.38 during mid-day trading on Tuesday, hitting $178.00. The stock had a trading volume of 57,370 shares, compared to its average volume of 70,967. The firm has a market cap of $8.06 billion, a PE ratio of 74.17 and a beta of 1.04. The company's 50-day simple moving average is $187.34 and its 200-day simple moving average is $178.44. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.79 and a quick ratio of 1.79. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week high of $197.84.

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 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.21. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.32 billion. FirstService had a net margin of 2.19% and a return on equity of 16.68%. The firm's revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.18 earnings per share. Sell-side analysts anticipate that FirstService Co. will post 4.58 earnings per share for the current year.

FirstService Announces Dividend

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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Tuesday, December 31st. FirstService's dividend payout ratio is presently 41.67%.

Analyst Ratings Changes

FSV has been the subject of several research reports. Scotiabank boosted their target price on FirstService from $190.00 to $200.00 and gave the company a "sector perform" rating in a report on Tuesday, October 15th. Stifel Nicolaus boosted their price objective on FirstService from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, October 21st. TD Securities raised their target price on shares of FirstService from $179.00 to $182.00 and gave the stock a "hold" rating in a research report on Thursday, October 17th. Finally, StockNews.com upgraded shares of FirstService from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.