State of New Jersey Common Pension Fund D Purchases 4,595 Shares of FirstService Co. (NASDAQ:FSV)

State of New Jersey Common Pension Fund D grew its holdings in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 121.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,380 shares of the financial services provider's stock after buying an additional 4,595 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in FirstService were worth $1,529,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FSV. Russell Investments Group Ltd. boosted its holdings in FirstService by 21.5% in the first quarter. Russell Investments Group Ltd. now owns 20,592 shares of the financial services provider's stock worth $3,414,000 after purchasing an additional 3,644 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in FirstService by 23.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,700 shares of the financial services provider's stock valued at $6,559,000 after acquiring an additional 7,600 shares during the period. Vanguard Group Inc. raised its position in shares of FirstService by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider's stock worth $274,363,000 after purchasing an additional 76,503 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of FirstService by 39.3% in the 1st quarter. Acadian Asset Management LLC now owns 8,500 shares of the financial services provider's stock worth $1,407,000 after purchasing an additional 2,400 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its position in FirstService by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 600 shares of the financial services provider's stock valued at $99,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 69.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FSV. TD Securities upped 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. StockNews.com upgraded shares of FirstService from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. Stifel Nicolaus raised their target price on shares of FirstService from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Royal Bank of Canada boosted their price target on shares of FirstService from $187.00 to $192.00 and gave the company an "outperform" rating in a report on Friday, July 26th. Finally, Scotiabank raised their price objective on shares of FirstService from $190.00 to $200.00 and gave the stock a "sector perform" rating in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $198.33.

FirstService Price Performance

FSV traded up $2.26 during trading on Tuesday, hitting $186.17. The company's stock had a trading volume of 97,033 shares, compared to its average volume of 83,430. The firm's 50 day moving average price is $184.04 and its two-hundred day moving average price is $168.67. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $8.40 billion, a price-to-earnings ratio of 76.63 and a beta of 1.05. FirstService Co. has a 12 month low of $141.26 and a 12 month high of $192.71.

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

FirstService Announces Dividend

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

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.