FirstService Co. (NASDAQ:FSV) Shares Bought by Cumberland Partners Ltd

Cumberland Partners Ltd boosted its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 0.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,840 shares of the financial services provider’s stock after purchasing an additional 70 shares during the quarter. Cumberland Partners Ltd’s holdings in FirstService were worth $6,739,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in FSV. BNP Paribas Financial Markets increased its stake in FirstService by 103.1% in the first quarter. BNP Paribas Financial Markets now owns 15,790 shares of the financial services provider’s stock valued at $2,618,000 after purchasing an additional 8,017 shares during the last quarter. Empowered Funds LLC increased its stake in FirstService by 9.8% during the first quarter. Empowered Funds LLC now owns 7,238 shares of the financial services provider’s stock worth $1,200,000 after acquiring an additional 645 shares during the last quarter. Russell Investments Group Ltd. increased its stake in FirstService by 21.5% during the first quarter. Russell Investments Group Ltd. now owns 20,592 shares of the financial services provider’s stock worth $3,414,000 after acquiring an additional 3,644 shares during the last quarter. Pembroke Management LTD increased its stake in FirstService by 4.7% during the first quarter. Pembroke Management LTD now owns 4,835 shares of the financial services provider’s stock worth $802,000 after acquiring an additional 216 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in FirstService by 11.5% during the first quarter. Blair William & Co. IL now owns 67,881 shares of the financial services provider’s stock worth $11,255,000 after acquiring an additional 7,013 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

FirstService Stock Performance

NASDAQ:FSV traded up $0.55 during trading hours on Tuesday, reaching $187.24. 10,118 shares of the stock were exchanged, compared to its average volume of 82,761. The company has a quick ratio of 1.84, a current ratio of 1.79 and a debt-to-equity ratio of 1.13. The firm has a 50 day simple moving average of $183.28 and a 200-day simple moving average of $167.35. FirstService Co. has a 52 week low of $141.26 and a 52 week high of $192.71. The stock has a market capitalization of $8.45 billion, a P/E ratio of 77.79 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.63 EPS 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 for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the business posted $1.18 EPS. FirstService’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, sell-side analysts forecast that FirstService Co. will post 4.58 earnings per share for the current fiscal 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 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Monday, September 30th. FirstService’s payout ratio is 41.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FSV shares. Scotiabank upped their price target on FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 15th. Royal Bank of Canada upped their price target on FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. StockNews.com upgraded FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Stifel Nicolaus upped their target price on FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, TD Securities upped their target price on FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, FirstService has an average rating of “Moderate Buy” and an average target price of $198.33.

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.