FirstService Co. (NASDAQ:FSV) Shares Bought by Cumberland Partners Ltd

Cumberland Partners Ltd raised its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,840 shares of the financial services provider’s stock after acquiring an additional 70 shares during the period. Cumberland Partners Ltd owned approximately 0.08% of FirstService worth $6,739,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Millennium Management LLC grew its stake in 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 in the last quarter. The Manufacturers Life Insurance Company grew its position 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 worth $415,427,000 after buying an additional 174,970 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of FirstService by 4.8% during the first quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock worth $274,363,000 after buying an additional 76,503 shares during the period. Summit Creek Advisors LLC acquired a new stake in FirstService in the first quarter valued at approximately $11,710,000. Finally, Boston Financial Mangement LLC lifted its stake in 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. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Stock Performance

Shares of NASDAQ:FSV traded up $0.55 during midday trading on Tuesday, hitting $187.24. The stock had a trading volume of 10,118 shares, compared to its average volume of 82,761. FirstService Co. has a 1 year low of $141.26 and a 1 year high of $192.71. The company has a current ratio of 1.79, a quick ratio of 1.84 and a debt-to-equity ratio of 1.13. The stock has a 50 day moving average price of $183.28 and a two-hundred day moving average price of $167.35. The company has a market capitalization of $8.45 billion, a PE ratio of 77.79 and a beta of 1.05.

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

FirstService Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.53%. FirstService’s dividend payout ratio (DPR) is presently 41.67%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FSV. Stifel Nicolaus boosted their target price on shares of FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. TD Securities increased 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 increased their price target on shares of FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 15th. StockNews.com upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada boosted their price target 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. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.33.

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.