Versor Investments LP Purchases Shares of 2,754 FirstService Co. (NASDAQ:FSV)

Versor Investments LP acquired a new position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) in the third quarter, Holdings Channel reports. The fund acquired 2,754 shares of the financial services provider’s stock, valued at approximately $503,000.

Several other institutional investors have also made changes to their positions in the business. Benjamin Edwards Inc. lifted its stake in FirstService by 35.0% during the second quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 91 shares during the period. Fifth Third Bancorp lifted its position in shares of FirstService by 20.5% during the 2nd quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider’s stock worth $97,000 after buying an additional 108 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in FirstService by 49.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock valued at $63,000 after buying an additional 138 shares in the last quarter. First Horizon Advisors Inc. grew its position 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 acquiring an additional 141 shares during the period. Finally, Public Sector Pension Investment Board raised its stake in FirstService by 3.7% during the second quarter. Public Sector Pension Investment Board now owns 4,048 shares of the financial services provider’s stock worth $616,000 after acquiring an additional 143 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

FirstService Trading Up 0.0 %

FSV stock opened at $187.09 on Thursday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.13. FirstService Co. has a twelve month low of $141.26 and a twelve month high of $192.71. The company has a market cap of $8.44 billion, a P/E ratio of 77.95 and a beta of 1.05. The business has a fifty day moving average of $183.61 and a 200-day moving average of $167.75.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.21. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the business posted $1.18 EPS. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, equities research analysts expect that FirstService Co. will post 4.58 EPS for the current 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Monday, September 30th. FirstService’s dividend payout ratio is presently 41.67%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FSV shares. 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 report on Thursday, October 17th. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Scotiabank boosted their target price on FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 15th. Royal Bank of Canada raised their price target on FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus boosted their price objective on FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently 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.