FirstService Co. (NASDAQ:FSV) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE increased its position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 112.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 216,270 shares of the financial services provider’s stock after acquiring an additional 114,620 shares during the quarter. Bank of America Corp DE’s holdings in FirstService were worth $39,149,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of FSV. Trust Co. of Vermont purchased a new stake in FirstService in the 4th quarter valued at approximately $46,000. Natixis lifted its stake in FirstService by 5,511.1% in the 4th quarter. Natixis now owns 505 shares of the financial services provider’s stock valued at $91,000 after buying an additional 496 shares in the last quarter. Blue Trust Inc. lifted its stake in FirstService by 158.2% in the 4th quarter. Blue Trust Inc. now owns 728 shares of the financial services provider’s stock valued at $133,000 after buying an additional 446 shares in the last quarter. Gitterman Wealth Management LLC purchased a new stake in FirstService in the 4th quarter valued at approximately $201,000. Finally, Congress Asset Management Co. purchased a new stake in FirstService in the 4th quarter valued at approximately $232,000. Institutional investors and hedge funds own 69.35% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FSV shares. Scotiabank reduced their target price on FirstService from $217.50 to $210.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 17th. TD Securities upped their target price on FirstService from $198.00 to $200.00 and gave the company a “hold” rating in a research note on Wednesday, May 7th. StockNews.com lowered FirstService from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Finally, Raymond James increased their price target on FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, FirstService has a consensus rating of “Moderate Buy” and an average price target of $206.33.

FirstService Trading Up 2.3%

Shares of FirstService stock opened at $175.61 on Friday. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week high of $197.84. The firm has a market cap of $7.98 billion, a PE ratio of 59.13 and a beta of 1.04. The business’s fifty day moving average is $169.74 and its two-hundred day moving average is $178.33. The company has a quick ratio of 1.79, a current ratio of 1.75 and a debt-to-equity ratio of 1.09.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. FirstService had a return on equity of 17.15% and a net margin of 2.58%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company posted $0.67 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts anticipate that FirstService Co. will post 5.27 earnings per share for the current year.

FirstService Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.275 per share. The ex-dividend date is Monday, June 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.63%. FirstService’s payout ratio is 38.06%.

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.