Cubist Systematic Strategies LLC Has $2.63 Million Position in FirstService Co. (NASDAQ:FSV)

Cubist Systematic Strategies LLC lifted its position in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 33.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,253 shares of the financial services provider's stock after acquiring an additional 4,318 shares during the quarter. Cubist Systematic Strategies LLC's holdings in FirstService were worth $2,628,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its position 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 valued at $415,427,000 after purchasing an additional 174,970 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of FirstService by 4.8% in the first quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider's stock worth $274,363,000 after acquiring an additional 76,503 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in shares of FirstService by 3.2% in the second quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider's stock worth $217,409,000 after acquiring an additional 44,236 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of 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 in the last quarter. Finally, Renaissance Technologies LLC boosted its position in FirstService by 3.4% during the second quarter. Renaissance Technologies LLC now owns 643,388 shares of the financial services provider's stock valued at $98,033,000 after purchasing an additional 21,100 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Scotiabank raised their price target on FirstService from $175.00 to $190.00 and gave the stock a "sector perform" rating in a research note on Monday, July 29th. TD Securities lifted their target price on shares of FirstService from $178.00 to $179.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada increased their price target on shares of FirstService from $187.00 to $192.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, FirstService has an average rating of "Moderate Buy" and a consensus target price of $189.50.

FirstService Stock Performance

FSV stock traded up $1.82 during midday trading on Friday, hitting $185.80. 63,350 shares of the company traded hands, compared to its average volume of 84,013. The business has a 50 day simple moving average of $177.52 and a 200-day simple moving average of $162.78. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.23. FirstService Co. has a twelve month low of $134.77 and a twelve month high of $187.52. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 91.98 and a beta of 1.05.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its earnings results on Thursday, July 25th. The financial services provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.26 by $0.10. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $1.37 EPS. The business's quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts predict that FirstService Co. will post 4.35 earnings per share for the current year.

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 0.54%. FirstService's payout ratio is 49.50%.

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.