Sargent Investment Group LLC Has $3.59 Million Stock Position in FirstService Co. (NASDAQ:FSV)

Sargent Investment Group LLC raised its holdings in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 15.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,553 shares of the financial services provider’s stock after purchasing an additional 3,236 shares during the period. Sargent Investment Group LLC owned 0.05% of FirstService worth $3,589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of FSV. TD Asset Management Inc increased its holdings in FirstService by 8.9% in the fourth quarter. TD Asset Management Inc now owns 250,577 shares of the financial services provider’s stock valued at $40,739,000 after purchasing an additional 20,397 shares during the last quarter. 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 valued at $11,416,000 after acquiring an additional 27,871 shares during the period. Norden Group LLC bought a new position in FirstService during the 1st quarter worth approximately $862,000. LM Advisors LLC acquired a new position in FirstService during the fourth quarter valued at approximately $15,557,000. Finally, Goldman Sachs Group Inc. increased its stake in FirstService by 245.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 338,104 shares of the financial services provider’s stock valued at $54,803,000 after purchasing an additional 240,303 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FSV shares. TD Securities boosted their price target on shares of FirstService from $178.00 to $179.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Scotiabank increased their price target on FirstService from $175.00 to $190.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. BMO Capital Markets lifted their price objective on FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Finally, Royal Bank of Canada increased their target price on FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $189.50.

FirstService Stock Down 0.6 %

Shares of FSV stock opened at $181.00 on Tuesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 89.60 and a beta of 1.05. FirstService Co. has a 52-week low of $134.77 and a 52-week high of $182.88. The firm’s 50-day moving average is $171.47 and its 200-day moving average is $160.72.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.10. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. FirstService had a net margin of 1.73% and a return on equity of 15.60%. FirstService’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.37 EPS. Sell-side analysts predict that FirstService Co. will post 4.32 EPS for the current year.

FirstService Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. FirstService’s dividend payout ratio (DPR) is currently 49.50%.

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.