FirstService Co. (NASDAQ:FSV) Shares Bought by PDT Partners LLC

PDT Partners LLC raised its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 24.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 19,726 shares of the financial services provider’s stock after acquiring an additional 3,925 shares during the quarter. PDT Partners LLC’s holdings in FirstService were worth $3,599,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Millennium Management LLC raised its position in shares of FirstService by 2,136.1% during the 2nd quarter. Millennium Management LLC now owns 209,297 shares of the financial services provider’s stock worth $31,853,000 after purchasing an additional 199,937 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of FirstService by 6.8% during the second quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider’s stock valued at $415,427,000 after acquiring an additional 174,970 shares during the last quarter. Bank of Montreal Can lifted its position in shares of FirstService by 19.7% in the third quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider’s stock valued at $69,992,000 after acquiring an additional 63,807 shares in the last quarter. Boston Financial Mangement LLC boosted its stake in shares of FirstService by 25.3% in the third quarter. Boston Financial Mangement LLC now owns 246,673 shares of the financial services provider’s stock worth $45,008,000 after acquiring an additional 49,790 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its position in shares of FirstService by 3.2% during the second quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider’s stock worth $217,409,000 after purchasing an additional 44,236 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. TD Securities raised their price objective on FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a report 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 research note 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 boosted their target price on FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $198.33.

FirstService Stock Performance

FirstService stock opened at $194.19 on Friday. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 81.17 and a beta of 1.05. 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 firm has a 50 day simple moving average of $186.05 and a 200-day simple moving average of $170.73. FirstService Co. has a 1-year low of $141.26 and a 1-year high of $197.84.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the company posted $1.18 earnings per share. FirstService’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, analysts expect that FirstService Co. will post 4.58 EPS for the current year.

FirstService Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Monday, September 30th. 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.