King Luther Capital Management Corp Increases Stake in FirstService Co. (NASDAQ:FSV)

King Luther Capital Management Corp boosted its holdings in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 9.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,284 shares of the financial services provider’s stock after acquiring an additional 2,835 shares during the period. King Luther Capital Management Corp’s holdings in FirstService were worth $6,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in FSV. Toronto Dominion Bank raised its position in shares of FirstService by 68.0% in the 1st quarter. Toronto Dominion Bank now owns 68,856 shares of the financial services provider’s stock worth $11,416,000 after acquiring an additional 27,871 shares in the last quarter. Amica Mutual Insurance Co. raised its holdings in FirstService by 99.9% in the second quarter. Amica Mutual Insurance Co. now owns 9,908 shares of the financial services provider’s stock worth $1,510,000 after purchasing an additional 4,952 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of FirstService by 8.2% during the second quarter. Envestnet Asset Management Inc. now owns 193,129 shares of the financial services provider’s stock valued at $29,427,000 after buying an additional 14,579 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of FirstService by 21.5% in the 1st quarter. Russell Investments Group Ltd. now owns 20,592 shares of the financial services provider’s stock valued at $3,414,000 after buying an additional 3,644 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in shares of FirstService by 0.8% in the 2nd quarter. William Blair Investment Management LLC now owns 861,871 shares of the financial services provider’s stock valued at $131,323,000 after buying an additional 6,863 shares in the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on FSV. StockNews.com upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada upped their price target on FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Stifel Nicolaus raised their price objective on FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. TD Securities boosted their target price on FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Finally, Scotiabank increased their price target on FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 15th. 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 company currently has an average rating of “Moderate Buy” and an average target price of $198.33.

FirstService Stock Performance

Shares of FSV stock opened at $191.86 on Friday. The business has a fifty day moving average of $184.38 and a 200 day moving average of $169.06. FirstService Co. has a 1 year low of $141.26 and a 1 year high of $192.71. 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 market capitalization of $8.66 billion, a price-to-earnings ratio of 79.94 and a beta of 1.05.

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

FirstService Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, September 30th. FirstService’s payout ratio is 41.67%.

About FirstService

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.