King Luther Capital Management Corp Buys 6,571 Shares of FirstService Corporation $FSV

King Luther Capital Management Corp grew its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 15.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,396 shares of the financial services provider’s stock after purchasing an additional 6,571 shares during the period. King Luther Capital Management Corp owned approximately 0.12% of FirstService worth $6,189,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp grew its stake in shares of FirstService by 23.7% in the 1st quarter. Fifth Third Bancorp now owns 627 shares of the financial services provider’s stock valued at $87,000 after buying an additional 120 shares during the period. Sequoia Financial Advisors LLC acquired a new position in FirstService during the 2nd quarter worth approximately $220,000. State of Wyoming acquired a new position in FirstService during the 1st quarter worth approximately $247,000. Hilltop National Bank raised its stake in FirstService by 4.1% during the 2nd quarter. Hilltop National Bank now owns 2,055 shares of the financial services provider’s stock worth $292,000 after buying an additional 81 shares during the period. Finally, Vise Technologies Inc. bought a new position in FirstService in the third quarter worth approximately $290,000. Institutional investors own 69.35% of the company’s stock.

FirstService Stock Performance

NASDAQ FSV opened at $154.16 on Friday. FirstService Corporation has a 1 year low of $119.41 and a 1 year high of $166.73. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 47.00, a PEG ratio of 2.94 and a beta of 0.89. The company has a fifty day moving average price of $137.91 and a 200-day moving average price of $142.07.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, October 22nd. The financial services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.84 by $0.05. FirstService had a net margin of 2.59% and a return on equity of 19.66%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company posted $1.76 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities research analysts predict that FirstService Corporation will post 5.63 EPS for the current fiscal year.

FirstService Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 30th were issued a $0.3050 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. FirstService’s dividend payout ratio is currently 37.20%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FSV shares. Stifel Nicolaus raised their price objective on FirstService from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Wall Street Zen raised FirstService from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Weiss Ratings downgraded shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, November 4th. Scotia raised their price objective on shares of FirstService from $170.00 to $175.00 and gave the company a “sector perform” rating in a research note on Friday, October 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $179.00 price objective on shares of FirstService in a research note on Friday, October 23rd. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $179.82.

FirstService Company Profile

FirstService Corporation is a North American property services company operating through two primary businesses: FirstService Residential and FirstService Brands. The company serves residential communities and property owners in the United States and Canada. FirstService Residential provides property management services to condominium and homeowner associations, as well as other residential communities. Its services include day-to-day community operations, maintenance coordination, financial administration and support for boards and residents.