Hardy Reed LLC Takes Position in FirstService Co. (NASDAQ:FSV)

Hardy Reed LLC bought a new position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,190 shares of the financial services provider’s stock, valued at approximately $217,000.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings 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 acquiring an additional 242 shares during the last quarter. Benjamin Edwards Inc. lifted its position in shares of FirstService by 35.0% during the second quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 91 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in FirstService during the third quarter worth about $66,000. Benjamin F. Edwards & Company Inc. grew its position 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 worth $63,000 after purchasing an additional 138 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in FirstService by 40.6% in the 2nd 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 during the last quarter. Institutional investors own 69.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FSV shares. Stifel Nicolaus upped their target price on FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a report on Monday, October 21st. Scotiabank boosted their price objective on FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 15th. TD Securities raised their target price on FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Finally, StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $198.33.

FirstService Stock Down 1.5 %

Shares of NASDAQ FSV opened at $194.04 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $8.76 billion, a PE ratio of 80.85 and a beta of 1.05. FirstService Co. has a one year low of $141.26 and a one year high of $197.84. The business’s fifty day moving average price is $185.14 and its 200-day moving average price is $170.09.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.63 EPS for the quarter, beating the consensus estimate of $1.42 by $0.21. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.32 billion. FirstService had a net margin of 2.19% and a return on equity of 16.68%. The company’s revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.18 earnings per share. On average, equities research analysts anticipate that FirstService Co. will post 4.58 EPS for the current year.

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 0.52%. FirstService’s dividend 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.