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

Jennison Associates LLC lifted its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 27.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,791 shares of the financial services provider’s stock after buying 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.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in FirstService by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock worth $274,363,000 after buying an additional 76,503 shares during the period. UniSuper Management Pty Ltd lifted its holdings in shares of FirstService by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 600 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 300 shares during the period. Virtu Financial LLC increased its holdings in FirstService by 152.1% in the first quarter. Virtu Financial LLC now owns 4,190 shares of the financial services provider’s stock valued at $695,000 after purchasing an additional 2,528 shares during the period. Cetera Advisors LLC bought a new position in FirstService during the 1st quarter worth $311,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in FirstService by 2.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,040 shares of the financial services provider’s stock worth $998,000 after buying an additional 149 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Performance

NASDAQ:FSV opened at $192.48 on Friday. 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 $194.24. The company has a fifty day moving average of $184.82 and a 200-day moving average of $169.51. The firm has a market capitalization of $8.69 billion, a P/E ratio of 80.20 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.21. The firm had revenue of $1.40 billion during 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 business’s revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.18 earnings per share. As a group, sell-side analysts anticipate that FirstService Co. will post 4.58 EPS for the current year.

FirstService Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders 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 (DPR) is presently 41.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FSV shares. TD Securities increased their price target on 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 price target on shares of FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 15th. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Stifel Nicolaus increased their price objective on shares of FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus 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.