Prime Capital Investment Advisors LLC Sells 3,415 Shares of FirstService Co. (NASDAQ:FSV)

Prime Capital Investment Advisors LLC lessened its holdings in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 41.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,819 shares of the financial services provider’s stock after selling 3,415 shares during the period. Prime Capital Investment Advisors LLC’s holdings in FirstService were worth $879,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Benjamin Edwards Inc. raised its stake in FirstService by 35.0% in the second quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 91 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of FirstService by 20.5% during the 2nd quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 108 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of FirstService by 49.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 138 shares during the period. First Horizon Advisors Inc. boosted its position in shares of FirstService by 40.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 141 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its stake in FirstService by 3.7% in the second quarter. Public Sector Pension Investment Board now owns 4,048 shares of the financial services provider’s stock valued at $616,000 after acquiring an additional 143 shares during the last quarter. 69.35% of the stock is owned by institutional investors.

FirstService Trading Up 0.5 %

NASDAQ:FSV opened at $186.16 on Friday. FirstService Co. has a 52 week low of $141.26 and a 52 week high of $192.71. The firm’s fifty day moving average is $183.91 and its 200-day moving average is $168.13. The firm has a market cap of $8.40 billion, a P/E ratio of 77.57 and a beta of 1.05. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79.

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

FirstService Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were issued a $0.25 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 0.54%. FirstService’s payout ratio is currently 41.67%.

Analysts Set New Price Targets

A number of brokerages have weighed in on FSV. TD Securities raised their target price on FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Scotiabank raised their price objective on FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 15th. StockNews.com raised FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada raised their price target on shares of FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus boosted their price objective on FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, FirstService has a consensus rating of “Moderate Buy” and an average price target of $198.33.

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.