Fred Alger Management LLC Has $136.83 Million Stock Holdings in FirstService Co. (NASDAQ:FSV)

Fred Alger Management LLC trimmed its position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 749,888 shares of the financial services provider’s stock after selling 4,874 shares during the quarter. Fred Alger Management LLC owned approximately 1.66% of FirstService worth $136,825,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FSV. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in FirstService by 1.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,784 shares of the financial services provider’s stock valued at $11,456,000 after acquiring an additional 1,029 shares during the period. Public Sector Pension Investment Board increased its holdings in shares of FirstService by 29.9% in the third quarter. Public Sector Pension Investment Board now owns 5,257 shares of the financial services provider’s stock valued at $962,000 after purchasing an additional 1,209 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of FirstService by 2.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,431 shares of the financial services provider’s stock valued at $3,554,000 after purchasing an additional 406 shares during the period. Hardy Reed LLC acquired a new stake in shares of FirstService during the 3rd quarter worth about $217,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of FirstService by 7.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,218 shares of the financial services provider’s stock worth $1,317,000 after buying an additional 501 shares during the period. 69.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FSV has been the topic of several research analyst reports. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Scotiabank increased their target price on FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 15th. TD Securities lifted their price target on FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Finally, Stifel Nicolaus upped their price objective on FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a report on Monday, October 21st. Two 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, FirstService has a consensus rating of “Moderate Buy” and a consensus target price of $198.33.

FirstService Trading Up 0.4 %

Shares of FSV stock opened at $194.80 on Friday. The stock has a market cap of $8.79 billion, a P/E ratio of 81.17 and a beta of 1.05. FirstService Co. has a 1 year low of $141.26 and a 1 year high of $197.84. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.13. The stock has a 50 day simple moving average of $186.05 and a 200 day simple moving average of $170.73.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its 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 during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the company posted $1.18 EPS. The company’s revenue was up 25.0% compared to the same quarter last year. On average, research analysts predict that FirstService Co. will post 4.58 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The company 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. The ex-dividend date was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 0.51%. 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.