FirstService Co. (NASDAQ:FSV) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 20.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,922 shares of the financial services provider’s stock after buying an additional 3,080 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in FirstService were worth $2,917,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Prime Capital Investment Advisors LLC acquired a new stake in FirstService during the 4th quarter worth about $2,868,000. Raymond James & Associates increased its holdings in shares of FirstService by 6.2% in the 4th quarter. Raymond James & Associates now owns 118,713 shares of the financial services provider’s stock valued at $19,242,000 after purchasing an additional 6,895 shares during the period. Vanguard Group Inc. increased its holdings in shares of FirstService by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,582,337 shares of the financial services provider’s stock valued at $230,293,000 after purchasing an additional 29,482 shares during the period. Bank of Nova Scotia increased its holdings in shares of FirstService by 4.0% in the 3rd quarter. Bank of Nova Scotia now owns 349,586 shares of the financial services provider’s stock valued at $50,848,000 after purchasing an additional 13,320 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of FirstService by 7.8% in the 3rd quarter. American Century Companies Inc. now owns 462,391 shares of the financial services provider’s stock valued at $67,267,000 after purchasing an additional 33,438 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FSV. Scotiabank began coverage on FirstService in a report on Thursday, April 11th. They issued a “sector perform” rating and a $170.00 target price on the stock. BMO Capital Markets dropped their target price on FirstService from $196.00 to $193.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Raymond James upped their target price on FirstService from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, January 26th. TheStreet cut FirstService from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $187.00 price target on shares of FirstService in a research note on Wednesday, February 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, FirstService presently has an average rating of “Moderate Buy” and an average price target of $177.86.

FirstService Stock Up 1.8 %

Shares of FirstService stock opened at $152.13 on Tuesday. The stock has a market capitalization of $6.84 billion, a P/E ratio of 67.92 and a beta of 0.97. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.15. The stock has a 50 day moving average price of $162.59 and a two-hundred day moving average price of $158.32. FirstService Co. has a 12-month low of $134.77 and a 12-month high of $171.94.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Tuesday, February 6th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.04). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. FirstService had a return on equity of 17.56% and a net margin of 2.32%. Equities analysts expect that FirstService Co. will post 4.6 earnings per share for the current year.

FirstService Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 29th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 0.66%. This is a boost from FirstService’s previous quarterly dividend of $0.23. FirstService’s dividend payout ratio is presently 44.64%.

FirstService 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.