Boston Financial Mangement LLC Acquires 49,790 Shares of FirstService Co. (NASDAQ:FSV)

Boston Financial Mangement LLC increased its holdings in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 25.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 246,673 shares of the financial services provider's stock after purchasing an additional 49,790 shares during the quarter. FirstService accounts for 1.3% of Boston Financial Mangement LLC's holdings, making the stock its 21st biggest position. Boston Financial Mangement LLC owned approximately 0.55% of FirstService worth $45,008,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of FirstService by 1.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 81,663 shares of the financial services provider's stock worth $13,528,000 after buying an additional 1,240 shares in the last quarter. Norden Group LLC acquired a new stake in shares of FirstService in the first quarter valued at approximately $862,000. Diversify Advisory Services LLC bought a new stake in shares of FirstService in the first quarter worth $429,000. BNP Paribas Financial Markets boosted its holdings in FirstService by 103.1% during the first quarter. BNP Paribas Financial Markets now owns 15,790 shares of the financial services provider's stock worth $2,618,000 after purchasing an additional 8,017 shares during the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in FirstService in the first quarter valued at $353,000. 69.35% of the stock is currently owned by institutional investors and hedge funds.

FirstService Stock Performance

Shares of NASDAQ:FSV traded up $2.52 during trading on Tuesday, reaching $190.85. 105,120 shares of the stock were exchanged, compared to its average volume of 82,930. The firm has a market cap of $8.58 billion, a PE ratio of 93.74 and a beta of 1.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.23. FirstService Co. has a 12 month low of $137.94 and a 12 month high of $192.71. The stock has a 50-day moving average price of $181.19 and a 200-day moving average price of $164.83.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued 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. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm posted $1.18 EPS. The company's revenue for the quarter was up 25.0% on a year-over-year basis. Research analysts expect that FirstService Co. will post 4.35 EPS for the current fiscal year.

FirstService Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, September 30th. FirstService's dividend payout ratio (DPR) is currently 49.50%.

Analyst Upgrades and Downgrades

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