Oppenheimer Asset Management Inc. Buys 430 Shares of FirstService Co. (NASDAQ:FSV)

Oppenheimer Asset Management Inc. increased its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 3.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,106 shares of the financial services provider’s stock after buying an additional 430 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in FirstService were worth $1,845,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FSV. Accent Capital Management LLC acquired a new position in shares of FirstService during the fourth quarter valued at about $40,000. Blue Trust Inc. boosted its holdings in FirstService by 8,066.7% during the second quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 242 shares during the last quarter. Gulf International Bank UK Ltd grew its position in FirstService by 25.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 75 shares in the last quarter. First Horizon Advisors Inc. grew its position in FirstService by 40.6% in the 2nd 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. Finally, Security National Bank bought a new position in shares of FirstService during the 4th quarter worth approximately $90,000. Institutional investors own 69.35% of the company’s stock.

FirstService Price Performance

NASDAQ FSV opened at $179.12 on Thursday. 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 has a market cap of $8.06 billion, a PE ratio of 88.67 and a beta of 1.05. FirstService Co. has a 52 week low of $134.77 and a 52 week high of $182.88. The firm’s 50-day simple moving average is $172.53 and its two-hundred day simple moving average is $160.93.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.10. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company posted $1.37 EPS. FirstService’s revenue was up 15.9% compared to the same quarter last year. Research analysts predict that FirstService Co. will post 4.32 earnings per share for the current year.

FirstService Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 30th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Monday, September 30th. FirstService’s dividend payout ratio (DPR) is presently 49.50%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank of Canada increased their price target on FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. TD Securities lifted their target price on FirstService from $178.00 to $179.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. BMO Capital Markets increased their price target on shares of FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Finally, Scotiabank lifted their price objective on shares of FirstService from $175.00 to $190.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, FirstService has a consensus rating of “Moderate Buy” and an average target price of $189.50.

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.