Wellington Management Group LLP Raises Stock Position in FirstService Co. (NASDAQ:FSV)

Wellington Management Group LLP lifted its position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 47.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,613 shares of the financial services provider’s stock after buying an additional 20,097 shares during the period. Wellington Management Group LLP owned approximately 0.14% of FirstService worth $11,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of FSV. Wealth Enhancement Advisory Services LLC bought a new stake in FirstService during the second quarter valued at approximately $219,000. Blue Trust Inc. boosted its stake in shares of 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. Raymond James & Associates grew its position in shares of FirstService by 16.6% during the 2nd quarter. Raymond James & Associates now owns 141,869 shares of the financial services provider’s stock valued at $21,617,000 after acquiring an additional 20,180 shares during the period. First Horizon Advisors Inc. increased its stake in shares of FirstService by 40.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 141 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in FirstService by 20.5% in the 2nd quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 108 shares during the period. Institutional investors own 69.35% of the company’s stock.

Analyst Ratings Changes

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

FirstService Trading Down 1.3 %

Shares of FSV opened at $188.05 on Monday. The firm has a market cap of $8.51 billion, a P/E ratio of 78.35 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.79 and a quick ratio of 1.79. FirstService Co. has a 1 year low of $141.26 and a 1 year high of $197.84. The company has a 50 day simple moving average of $188.43 and a two-hundred day simple moving average of $174.60.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.21. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.32 billion. FirstService had a net margin of 2.19% and a return on equity of 16.68%. FirstService’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.18 earnings per share. On average, equities analysts expect that FirstService Co. will post 4.58 earnings per share for the current fiscal year.

FirstService Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 31st will be issued a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. FirstService’s dividend payout ratio (DPR) 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.