Stifel Financial Corp Raises Stock Position in FirstService Co. (NASDAQ:FSV)

Stifel Financial Corp increased its holdings in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 65.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,103 shares of the financial services provider's stock after purchasing an additional 8,348 shares during the period. Stifel Financial Corp's holdings in FirstService were worth $3,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FSV. Wealth Enhancement Advisory Services LLC acquired a new position in FirstService in the second quarter valued at approximately $219,000. Blue Trust Inc. boosted its holdings in FirstService by 8,066.7% during the second quarter. Blue Trust Inc. now owns 245 shares of the financial services provider's stock worth $41,000 after buying an additional 242 shares in the last quarter. Raymond James & Associates boosted its holdings in FirstService by 16.6% during the second quarter. Raymond James & Associates now owns 141,869 shares of the financial services provider's stock worth $21,617,000 after buying an additional 20,180 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in FirstService by 40.6% in the second quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider's stock valued at $74,000 after buying an additional 141 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in FirstService by 20.5% in the second quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider's stock valued at $97,000 after buying an additional 108 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

FirstService Price Performance

Shares of FSV traded down $0.66 during trading hours on Tuesday, hitting $186.36. 113,097 shares of the stock were exchanged, compared to its average volume of 83,969. The stock's 50-day moving average price is $188.64 and its two-hundred day moving average price is $174.91. FirstService Co. has a 12-month low of $141.26 and a 12-month high of $197.84. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market cap of $8.44 billion, a price-to-earnings ratio of 77.65 and a beta of 1.04.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.21. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.32 billion. FirstService had a net margin of 2.19% and a return on equity of 16.68%. The company's revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.18 earnings per share. Research analysts expect that FirstService Co. will post 4.58 earnings per share for the current year.

FirstService Dividend Announcement

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

Analyst Upgrades and Downgrades

FSV has been the topic of a number of analyst reports. Scotiabank raised their target price on FirstService from $190.00 to $200.00 and gave the company a "sector perform" rating in a research report on Tuesday, October 15th. TD Securities raised their price objective on FirstService from $179.00 to $182.00 and gave the company a "hold" rating in a report on Thursday, October 17th. Stifel Nicolaus upped their target price on FirstService from $200.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Finally, StockNews.com raised shares of FirstService from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $198.33.

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.