US Bancorp DE Increases Stock Position in FirstService Co. (NASDAQ:FSV)

US Bancorp DE increased its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 29.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,278 shares of the financial services provider’s stock after purchasing an additional 294 shares during the period. US Bancorp DE’s holdings in FirstService were worth $233,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FSV. First Trust Direct Indexing L.P. boosted its stake in shares of FirstService by 25.9% during the third quarter. First Trust Direct Indexing L.P. now owns 2,930 shares of the financial services provider’s stock valued at $535,000 after acquiring an additional 602 shares during the last quarter. Boston Financial Mangement LLC boosted its stake in shares of FirstService by 25.3% during the 3rd quarter. Boston Financial Mangement LLC now owns 246,673 shares of the financial services provider’s stock worth $45,008,000 after purchasing an additional 49,790 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of FirstService by 54.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,224 shares of the financial services provider’s stock worth $406,000 after buying an additional 787 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of FirstService in the third quarter valued at approximately $293,000. Finally, Argent Capital Management LLC lifted its stake in shares of FirstService by 7.6% during the third quarter. Argent Capital Management LLC now owns 28,795 shares of the financial services provider’s stock valued at $5,254,000 after buying an additional 2,044 shares during the period. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Stock Performance

Shares of NASDAQ FSV opened at $187.09 on Thursday. 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 $8.44 billion, a price-to-earnings ratio of 77.95 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 stock’s fifty day simple moving average is $183.61 and its 200 day simple moving average is $167.75.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.63 EPS for the quarter, beating 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 company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm earned $1.18 earnings per share. The business’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, sell-side analysts forecast that FirstService Co. will post 4.58 earnings per share for the current fiscal year.

FirstService Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. FirstService’s dividend payout ratio (DPR) is presently 41.67%.

Analysts Set New Price Targets

A number of brokerages have recently commented on FSV. Stifel Nicolaus lifted their price objective on FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, October 21st. TD Securities upped 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. Scotiabank raised their target price on shares of FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 15th. Royal Bank of Canada increased their price target on shares of FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, StockNews.com upgraded 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 assigned a buy rating to the company’s stock. According to MarketBeat, FirstService has an average rating of “Moderate Buy” and an average price target of $198.33.

FirstService 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.