Prime Capital Investment Advisors LLC Lowers Stock Holdings in FirstService Co. (NASDAQ:FSV)

Prime Capital Investment Advisors LLC trimmed its holdings in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 41.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,819 shares of the financial services provider's stock after selling 3,415 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in FirstService were worth $879,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Russell Investments Group Ltd. increased its holdings in shares of FirstService by 21.5% in the first quarter. Russell Investments Group Ltd. now owns 20,592 shares of the financial services provider's stock valued at $3,414,000 after purchasing an additional 3,644 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in FirstService by 23.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,700 shares of the financial services provider's stock worth $6,559,000 after purchasing an additional 7,600 shares in the last quarter. Vanguard Group Inc. lifted its position in FirstService by 4.8% in the first quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider's stock valued at $274,363,000 after purchasing an additional 76,503 shares during the period. Acadian Asset Management LLC boosted its holdings in FirstService by 39.3% in the 1st quarter. Acadian Asset Management LLC now owns 8,500 shares of the financial services provider's stock valued at $1,407,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Summit Creek Advisors LLC acquired a new position in FirstService during the 1st quarter worth approximately $11,710,000. Hedge funds and other institutional investors own 69.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FSV shares. StockNews.com upgraded FirstService from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. TD Securities increased their price target on shares of FirstService from $179.00 to $182.00 and gave the company a "hold" rating in a report on Thursday, October 17th. Royal Bank of Canada raised their price objective on shares of FirstService from $187.00 to $192.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. Scotiabank boosted their price objective on shares of FirstService from $190.00 to $200.00 and gave the stock a "sector perform" rating in a report on Tuesday, October 15th. Finally, Stifel Nicolaus lifted their price target on shares of FirstService from $200.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, FirstService has an average rating of "Moderate Buy" and an average price target of $198.33.

FirstService Price Performance

Shares of NASDAQ FSV traded up $0.90 on Friday, hitting $186.16. The company's stock had a trading volume of 171,382 shares, compared to its average volume of 83,224. The stock has a 50 day moving average of $183.91 and a 200-day moving average of $168.13. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of 77.57 and a beta of 1.05. FirstService Co. has a 12-month low of $141.26 and a 12-month high of $192.71. 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 (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.21. The firm 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%. FirstService's revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 EPS. As a group, research analysts predict that FirstService Co. will post 4.58 EPS for the current year.

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Monday, September 30th. FirstService's dividend payout ratio is presently 41.67%.

About FirstService

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.