Montrusco Bolton Investments Inc. Boosts Stock Holdings in FirstService Co. (NASDAQ:FSV)

Montrusco Bolton Investments Inc. raised its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,674 shares of the financial services provider’s stock after purchasing an additional 548 shares during the period. Montrusco Bolton Investments Inc. owned 0.14% of FirstService worth $11,830,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Toronto Dominion Bank boosted its position in shares of FirstService by 68.0% in the first quarter. Toronto Dominion Bank now owns 68,856 shares of the financial services provider’s stock valued at $11,416,000 after acquiring an additional 27,871 shares during the period. Amica Mutual Insurance Co. boosted its position in shares of FirstService by 99.9% in the second quarter. Amica Mutual Insurance Co. now owns 9,908 shares of the financial services provider’s stock valued at $1,510,000 after acquiring an additional 4,952 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of FirstService by 8.2% in 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 acquiring an additional 14,579 shares during the period. William Blair Investment Management LLC boosted its position in shares of FirstService by 0.8% in the second quarter. William Blair Investment Management LLC now owns 861,871 shares of the financial services provider’s stock valued at $131,323,000 after acquiring an additional 6,863 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in shares of FirstService by 33.4% in the second quarter. Cubist Systematic Strategies LLC now owns 17,253 shares of the financial services provider’s stock valued at $2,628,000 after acquiring an additional 4,318 shares during the period. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Trading Up 0.3 %

FirstService stock opened at $192.48 on Friday. The stock has a market cap of $8.69 billion, a P/E ratio of 80.20 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. FirstService Co. has a 1 year low of $141.26 and a 1 year high of $194.24. The firm’s 50 day moving average price is $184.61 and its 200-day moving average price is $169.22.

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

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, September 30th. FirstService’s dividend payout ratio (DPR) is presently 41.67%.

Analyst Ratings Changes

Several equities research analysts have issued reports on FSV shares. Royal Bank of Canada lifted their target price on shares of FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Scotiabank lifted their target price on shares of FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 15th. TD Securities lifted their target price on shares of FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. StockNews.com upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus lifted their target price on shares of FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $198.33.

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.