King Luther Capital Management Corp Raises Position in FirstService Co. (NASDAQ:FSV)

King Luther Capital Management Corp increased its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,573 shares of the financial services provider’s stock after purchasing an additional 319 shares during the period. King Luther Capital Management Corp owned approximately 0.06% of FirstService worth $3,983,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of FirstService by 10.9% in the third quarter. Bank of New York Mellon Corp now owns 57,563 shares of the financial services provider’s stock valued at $8,378,000 after purchasing an additional 5,657 shares during the period. Signaturefd LLC increased its holdings in FirstService by 28.5% in the third quarter. Signaturefd LLC now owns 500 shares of the financial services provider’s stock valued at $73,000 after buying an additional 111 shares in the last quarter. NBC Securities Inc. acquired a new position in FirstService during the third quarter worth $582,000. Knowledge Leaders Capital LLC purchased a new stake in shares of FirstService in the 3rd quarter worth about $1,505,000. Finally, Pembroke Management LTD lifted its holdings in shares of FirstService by 6.8% in the third quarter. Pembroke Management LTD now owns 4,109 shares of the financial services provider’s stock valued at $598,000 after purchasing an additional 263 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FSV shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $187.00 price target on shares of FirstService in a report on Wednesday, February 7th. Raymond James lifted their price objective on FirstService from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. BMO Capital Markets cut their price target on shares of FirstService from $196.00 to $193.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Scotiabank started coverage on shares of FirstService in a research note on Thursday, April 11th. They set a “sector perform” rating and a $170.00 price objective for the company. Finally, StockNews.com downgraded shares of FirstService from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $186.00.

FirstService Price Performance

Shares of NASDAQ:FSV traded down $0.12 during trading on Thursday, reaching $144.34. The company had a trading volume of 7,645 shares, compared to its average volume of 77,759. The firm’s fifty day moving average is $155.72 and its 200 day moving average is $159.33. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market capitalization of $6.49 billion, a PE ratio of 71.52 and a beta of 1.01. FirstService Co. has a twelve month low of $134.77 and a twelve month high of $171.94.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01). FirstService had a net margin of 2.02% and a return on equity of 16.42%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. On average, equities analysts forecast that FirstService Co. will post 4.38 EPS for the current year.

FirstService Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 28th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Friday, June 28th. FirstService’s payout ratio is 49.51%.

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.