Goldman Sachs Group Inc. Acquires 240,303 Shares of FirstService Co. (NASDAQ:FSV)

Goldman Sachs Group Inc. raised its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 245.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 338,104 shares of the financial services provider’s stock after purchasing an additional 240,303 shares during the quarter. Goldman Sachs Group Inc.’s holdings in FirstService were worth $54,803,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. HighTower Advisors LLC bought a new stake in shares of FirstService in the 3rd quarter valued at about $410,000. State of New Jersey Common Pension Fund D raised its stake in FirstService by 77.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 11,077 shares of the financial services provider’s stock worth $1,612,000 after buying an additional 4,838 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in FirstService by 1.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 5,353 shares of the financial services provider’s stock worth $782,000 after acquiring an additional 97 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in FirstService in the third quarter valued at approximately $336,000. Finally, Eagle Asset Management Inc. increased its holdings in shares of FirstService by 0.6% during the third quarter. Eagle Asset Management Inc. now owns 99,397 shares of the financial services provider’s stock valued at $14,466,000 after acquiring an additional 552 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

FSV has been the topic of a number of recent research reports. Scotiabank started coverage on FirstService in a report on Thursday, April 11th. They issued a “sector perform” rating and a $170.00 target price on the stock. BMO Capital Markets raised their price objective on shares of FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, FirstService has a consensus rating of “Moderate Buy” and a consensus price target of $186.60.

FirstService Stock Down 1.5 %

Shares of NASDAQ:FSV opened at $150.76 on Wednesday. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of 74.63 and a beta of 1.04. The business’s 50 day moving average is $149.60 and its 200 day moving average is $158.90. FirstService Co. has a 12-month low of $134.77 and a 12-month high of $171.94. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.18.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. FirstService had a return on equity of 16.42% and a net margin of 2.02%. On average, sell-side analysts forecast that FirstService Co. will post 4.32 earnings per share for the current fiscal year.

FirstService Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 28th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Friday, June 28th. FirstService’s payout ratio is 49.51%.

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.