Oppenheimer Asset Management Inc. Sells 99 Shares of FirstService Co. (NASDAQ:FSV)

Oppenheimer Asset Management Inc. cut its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 0.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 12,007 shares of the financial services provider’s stock after selling 99 shares during the period. Oppenheimer Asset Management Inc.’s holdings in FirstService were worth $2,191,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FSV. Blue Trust Inc. grew its position in FirstService by 8,066.7% during the 2nd quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 242 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of FirstService by 35.0% in the second quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock worth $53,000 after buying an additional 91 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of FirstService by 49.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock valued at $63,000 after buying an additional 138 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of FirstService during the third quarter valued at approximately $66,000. Finally, First Horizon Advisors Inc. raised its holdings in FirstService by 40.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Trading Up 0.5 %

FirstService stock opened at $186.16 on Friday. FirstService Co. has a 52-week low of $141.26 and a 52-week high of $192.71. The company has a market cap of $8.40 billion, a P/E ratio of 77.57 and a beta of 1.05. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.13. The business has a 50-day simple moving average of $183.91 and a two-hundred day simple moving average of $168.28.

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

FirstService Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were issued 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 yield of 0.54%. FirstService’s dividend payout ratio is currently 41.67%.

Wall Street Analyst Weigh In

Several analysts have commented on FSV shares. Scotiabank increased their target price on 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 FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. TD Securities upped their target price on shares of FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Stifel Nicolaus raised their price target on shares of FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada boosted their price objective on shares of FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, FirstService 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.