Versor Investments LP Invests $503,000 in FirstService Co. (NASDAQ:FSV)

Versor Investments LP bought a new stake in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,754 shares of the financial services provider's stock, valued at approximately $503,000.

A number of other institutional investors have also modified their holdings of the business. Blue Trust Inc. raised 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 buying an additional 242 shares during the last quarter. Benjamin Edwards Inc. grew its stake in FirstService by 35.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 91 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake 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 during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of FirstService during the 3rd quarter worth about $66,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of FirstService by 40.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider's stock worth $74,000 after purchasing an additional 141 shares during the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

FirstService Stock Down 1.0 %

Shares of FSV stock traded down $1.83 during mid-day trading on Thursday, reaching $185.26. 44,108 shares of the company were exchanged, compared to its average volume of 82,825. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week high of $192.71. 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 capitalization of $8.36 billion, a P/E ratio of 77.19 and a beta of 1.05. The business's 50 day simple moving average is $183.74 and its 200 day simple moving average is $167.87.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its quarterly 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 net margin of 2.19% and a return on equity of 16.68%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company earned $1.18 earnings per share. The business's quarterly revenue was up 25.0% compared to the same quarter last year. Research analysts predict that FirstService Co. will post 4.58 earnings per share for the current year.

FirstService Announces Dividend

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

FirstService Company 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.