NBC Securities Inc. Reduces Holdings in FirstService Co. (NASDAQ:FSV)

NBC Securities Inc. lowered its position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 1.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,527 shares of the financial services provider’s stock after selling 63 shares during the period. NBC Securities Inc.’s holdings in FirstService were worth $643,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Gulf International Bank UK Ltd lifted its position in FirstService by 25.9% during the first quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock worth $60,000 after buying an additional 75 shares in the last quarter. Benjamin Edwards Inc. boosted its position in shares of FirstService by 35.0% during the 2nd quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 91 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of FirstService by 20.5% in the second quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 108 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in FirstService by 49.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 138 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in FirstService by 40.6% during the second 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 during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

Wall Street Analyst Weigh In

FSV has been the subject of several analyst reports. Scotiabank increased their price target on shares of FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research note on Tuesday. Royal Bank of Canada increased their price objective on FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, TD Securities lifted their target price on FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $191.67.

FirstService Stock Performance

NASDAQ:FSV opened at $188.10 on Friday. The stock has a market capitalization of $8.46 billion, a P/E ratio of 93.12 and a beta of 1.05. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.84 and a current ratio of 1.84. FirstService Co. has a fifty-two week low of $134.77 and a fifty-two week high of $189.89. The company has a 50 day moving average price of $178.59 and a 200 day moving average price of $163.21.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the firm posted $1.37 earnings per share. The company’s revenue was up 15.9% on a year-over-year basis. Equities research analysts forecast that FirstService Co. will post 4.35 EPS for the current year.

FirstService Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 0.53%. FirstService’s dividend payout ratio (DPR) is presently 49.50%.

About FirstService

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.