Cubist Systematic Strategies LLC Increases Holdings in FirstService Co. (NASDAQ:FSV)

Cubist Systematic Strategies LLC grew its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 33.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 17,253 shares of the financial services provider’s stock after buying an additional 4,318 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in FirstService were worth $2,628,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FSV. Accent Capital Management LLC purchased a new position in shares of FirstService during the fourth quarter valued at about $40,000. Blue Trust Inc. grew its holdings in shares of FirstService by 8,066.7% during the 2nd quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 242 shares during the period. Benjamin Edwards Inc. raised its position in shares of FirstService by 35.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 91 shares in the last quarter. Gulf International Bank UK Ltd lifted its stake in shares of FirstService by 25.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 75 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of FirstService by 49.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 138 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FSV has been the subject of a number of research reports. Scotiabank increased their price objective on FirstService from $175.00 to $190.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. TD Securities lifted their price target on shares of FirstService from $178.00 to $179.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada upped their price objective on shares of FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, FirstService currently has an average rating of “Moderate Buy” and an average target price of $189.50.

FirstService Trading Up 1.0 %

NASDAQ:FSV opened at $185.80 on Friday. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 103.80 and a beta of 1.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.23. The company’s 50 day moving average price is $177.52 and its 200-day moving average price is $162.79. FirstService Co. has a 52 week low of $134.77 and a 52 week high of $187.52.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Thursday, July 25th. The financial services provider reported $1.36 EPS for the quarter, beating the consensus estimate of $1.26 by $0.10. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the business posted $1.37 EPS. The company’s revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts forecast that FirstService Co. will post 4.35 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Monday, September 30th. FirstService’s dividend payout ratio (DPR) is 55.87%.

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.