Public Employees Retirement System of Ohio Purchases New Stake in FirstService Co. (NASDAQ:FSV)

Public Employees Retirement System of Ohio purchased a new position in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,776 shares of the financial services provider's stock, valued at approximately $1,238,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in FirstService by 8,066.7% during the 2nd quarter. Blue Trust Inc. now owns 245 shares of the financial services provider's stock worth $41,000 after purchasing an additional 242 shares during the period. Benjamin Edwards Inc. raised its position in FirstService by 35.0% in the second quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider's stock worth $53,000 after acquiring an additional 91 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of FirstService by 49.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider's stock worth $63,000 after purchasing an additional 138 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of FirstService during the 3rd quarter worth $66,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of FirstService by 40.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 141 shares in the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

FirstService Price Performance

FSV stock traded up $1.54 during trading on Friday, hitting $183.67. The stock had a trading volume of 89,165 shares, compared to its average volume of 84,558. FirstService Co. has a 1-year low of $141.26 and a 1-year high of $197.84. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 76.53 and a beta of 1.04. The company's 50 day moving average price is $188.66 and its two-hundred day moving average price is $175.27. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.21. FirstService had a net margin of 2.19% and a return on equity of 16.68%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business earned $1.18 earnings per share. FirstService's revenue was up 25.0% compared to the same quarter last year. On average, sell-side analysts forecast that FirstService Co. will post 4.58 EPS for the current fiscal year.

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 0.54%. FirstService's dividend payout ratio (DPR) is presently 41.67%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FSV. Scotiabank upped their target price 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. Stifel Nicolaus lifted their price objective on FirstService from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, October 21st. StockNews.com raised FirstService from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Finally, TD Securities lifted their price target on FirstService from $179.00 to $182.00 and gave the stock a "hold" rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, FirstService presently has an average 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.