Bank of Montreal Can Purchases 63,807 Shares of FirstService Co. (NASDAQ:FSV)

Bank of Montreal Can lifted its position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 19.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 388,430 shares of the financial services provider’s stock after buying an additional 63,807 shares during the period. Bank of Montreal Can’s holdings in FirstService were worth $69,992,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FSV. Dynamic Technology Lab Private Ltd bought a new position in FirstService in the 3rd quarter worth about $342,000. Cerity Partners LLC grew its holdings in shares of FirstService by 12.6% during the third quarter. Cerity Partners LLC now owns 2,330 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 261 shares in the last quarter. Montrusco Bolton Investments Inc. raised its stake in FirstService by 0.9% in the third quarter. Montrusco Bolton Investments Inc. now owns 64,674 shares of the financial services provider’s stock valued at $11,830,000 after purchasing an additional 548 shares in the last quarter. Raymond James Trust N.A. lifted its position in FirstService by 3.2% during the third quarter. Raymond James Trust N.A. now owns 3,523 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 110 shares during the last quarter. Finally, King Luther Capital Management Corp grew its stake in FirstService by 9.3% in the 3rd quarter. King Luther Capital Management Corp now owns 33,284 shares of the financial services provider’s stock worth $6,073,000 after buying an additional 2,835 shares in the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Wall Street Analyst Weigh In

FSV has been the topic of several research reports. TD Securities raised their price objective on shares of FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Scotiabank raised their price target on FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 15th. StockNews.com upgraded FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus raised 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $198.33.

FirstService Stock Up 0.4 %

FSV opened at $194.80 on Thursday. FirstService Co. has a 12 month low of $141.26 and a 12 month 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 business’s 50-day moving average price is $185.45 and its 200-day moving average price is $170.39. The company has a market cap of $8.79 billion, a P/E ratio of 80.85 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.21. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.32 billion. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.18 EPS. On average, equities analysts expect that FirstService Co. will post 4.58 EPS for the current year.

FirstService Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were issued 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 dividend payout ratio is currently 41.67%.

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.