Raymond James & Associates Invests $350,000 in FirstService Corp (FSV) Stock

Raymond James & Associates bought a new stake in FirstService Corp (NASDAQ:FSV) (TSE:FSV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,602 shares of the financial services provider’s stock, valued at approximately $350,000.

Other large investors have also recently bought and sold shares of the company. BB&T Securities LLC lifted its holdings in shares of FirstService by 14.7% in the 2nd quarter. BB&T Securities LLC now owns 16,972 shares of the financial services provider’s stock worth $1,290,000 after acquiring an additional 2,174 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of FirstService by 3.3% in the 2nd quarter. Renaissance Technologies LLC now owns 921,134 shares of the financial services provider’s stock worth $70,043,000 after acquiring an additional 29,634 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of FirstService in the 2nd quarter worth approximately $329,000. Great West Life Assurance Co. Can lifted its holdings in shares of FirstService by 0.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 184,247 shares of the financial services provider’s stock worth $14,060,000 after acquiring an additional 1,133 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of FirstService by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 115,782 shares of the financial services provider’s stock worth $8,804,000 after acquiring an additional 1,098 shares during the last quarter. Institutional investors own 63.65% of the company’s stock.

Shares of FSV opened at $71.19 on Tuesday. FirstService Corp has a fifty-two week low of $62.90 and a fifty-two week high of $90.21. The company has a market cap of $2.51 billion, a P/E ratio of 35.07 and a beta of 0.51. The company has a current ratio of 1.35, a quick ratio of 1.43 and a debt-to-equity ratio of 1.41.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Wednesday, October 24th. The financial services provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.01). FirstService had a return on equity of 36.30% and a net margin of 3.71%. The business had revenue of $506.36 million for the quarter, compared to analysts’ expectations of $505.25 million. During the same period in the previous year, the company earned $0.73 earnings per share. FirstService’s quarterly revenue was up 9.3% on a year-over-year basis. On average, research analysts forecast that FirstService Corp will post 1.9 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 5th. Shareholders of record on Friday, September 28th were given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Thursday, September 27th. FirstService’s dividend payout ratio is presently 26.60%.

FSV has been the topic of several recent research reports. BidaskClub raised shares of FirstService from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 4th. ValuEngine raised shares of FirstService from a “hold” rating to a “buy” rating in a research note on Wednesday, July 25th. Royal Bank of Canada upped their target price on shares of FirstService from $80.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 26th. Raymond James upped their target price on shares of FirstService from $72.00 to $83.00 and gave the stock a “market weight” rating in a research note on Friday, July 27th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $83.00 target price on shares of FirstService in a research note on Wednesday, October 24th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. FirstService presently has a consensus rating of “Hold” and a consensus target price of $82.75.

FirstService Company Profile

FirstService Corporation provides property services to residential and commercial customers in the United States and Canada. The company operates through two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment manages private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.

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Institutional Ownership by Quarter for FirstService (NASDAQ:FSV)

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