Quantinno Capital Management LP Buys 1,557 Shares of FirstService Co. (NASDAQ:FSV)

Quantinno Capital Management LP raised its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 13.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,364 shares of the financial services provider’s stock after buying an additional 1,557 shares during the quarter. Quantinno Capital Management LP’s holdings in FirstService were worth $2,438,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in FirstService by 8,066.7% in the second quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock valued at $41,000 after buying an additional 242 shares in the last quarter. Benjamin Edwards Inc. lifted its position 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 purchasing an additional 91 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of FirstService by 49.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 138 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of FirstService in the third quarter worth $66,000. Finally, First Horizon Advisors Inc. lifted its position in shares of FirstService by 40.6% in the second quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 141 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Scotiabank boosted their price objective on shares of FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 15th. Stifel Nicolaus boosted their price objective on shares of FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. TD Securities boosted their price objective on shares of FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Finally, StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $198.33.

FirstService Stock Performance

NASDAQ FSV opened at $190.32 on Wednesday. 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 firm’s fifty day moving average price is $187.76 and its two-hundred day moving average price is $173.62. FirstService Co. has a 1 year low of $141.26 and a 1 year high of $197.84. The firm has a market capitalization of $8.61 billion, a P/E ratio of 79.30 and a beta of 1.04.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.21. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.32 billion. FirstService had a net margin of 2.19% and a return on equity of 16.68%. The company’s revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.18 earnings per share. As a group, research analysts anticipate that FirstService Co. will post 4.58 EPS for the current year.

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Tuesday, December 31st. FirstService’s payout ratio is presently 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.