Jennison Associates LLC Acquires 1,018 Shares of FirstService Co. (NASDAQ:FSV)

Jennison Associates LLC grew its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 27.0% in the third quarter, HoldingsChannel.com reports. The firm owned 4,791 shares of the financial services provider’s stock after purchasing an additional 1,018 shares during the period. Jennison Associates LLC’s holdings in FirstService were worth $875,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. lifted its position in shares of FirstService by 8,066.7% during the second quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 242 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of FirstService by 35.0% during the 2nd quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock worth $53,000 after buying an additional 91 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of FirstService by 49.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock worth $63,000 after buying an additional 138 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of FirstService in the third quarter valued at approximately $66,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of 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 acquiring an additional 141 shares in the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Stock Performance

NASDAQ FSV opened at $192.48 on Friday. The firm has a market cap of $8.69 billion, a P/E ratio of 80.20 and a beta of 1.05. 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 company’s 50 day moving average is $184.82 and its 200-day moving average is $169.51. FirstService Co. has a 12-month low of $141.26 and a 12-month high of $194.24.

FirstService (NASDAQ:FSV) (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, topping the consensus estimate of $1.42 by $0.21. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.32 billion. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.18 earnings per share. Sell-side analysts predict that FirstService Co. will post 4.58 earnings per share for the current year.

FirstService Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, September 30th. FirstService’s dividend payout ratio is presently 41.67%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FSV. StockNews.com raised FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Stifel Nicolaus boosted their price target on shares of FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, October 21st. TD Securities raised their price objective on shares of FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Finally, Scotiabank boosted their target price 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average 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.