Wellington Management Group LLP Increases Stock Holdings in FirstService Co. (NASDAQ:FSV)

Wellington Management Group LLP increased its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 47.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 62,613 shares of the financial services provider’s stock after purchasing an additional 20,097 shares during the quarter. Wellington Management Group LLP’s holdings in FirstService were worth $11,426,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. boosted its position in shares of FirstService by 8,066.7% during the second quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock valued at $41,000 after buying an additional 242 shares during the period. Benjamin Edwards Inc. boosted its holdings in 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 period. Venturi Wealth Management LLC bought a new position in FirstService in the 3rd quarter valued at $66,000. Benjamin F. Edwards & Company Inc. increased its stake in FirstService by 49.6% in 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 period. Finally, First Horizon Advisors Inc. lifted its position in shares of 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 last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Analyst Ratings Changes

FSV has been the topic of a number of research analyst reports. TD Securities upped their price target on shares of FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Stifel Nicolaus boosted their price target on FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Scotiabank raised their price objective on FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.33.

FirstService Price Performance

NASDAQ FSV opened at $188.05 on Monday. The company has a market cap of $8.51 billion, a PE ratio of 78.35 and a beta of 1.04. FirstService Co. has a 52-week low of $141.26 and a 52-week high of $197.84. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79. The firm’s 50 day moving average price is $188.43 and its 200-day moving average price is $174.60.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 EPS for the quarter, topping the consensus estimate of $1.42 by $0.21. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.32 billion. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.18 EPS. Sell-side analysts forecast that FirstService Co. will post 4.58 EPS for the current fiscal year.

FirstService Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Tuesday, December 31st. FirstService’s payout ratio is 41.67%.

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.