FirstService Co. (NASDAQ:FSV) Shares Bought by William Blair Investment Management LLC

William Blair Investment Management LLC lifted its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 861,871 shares of the financial services provider’s stock after purchasing an additional 6,863 shares during the quarter. William Blair Investment Management LLC owned about 1.92% of FirstService worth $131,323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FSV. Accent Capital Management LLC bought a new position in FirstService during the 4th quarter worth $40,000. Blue Trust Inc. grew 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 worth $41,000 after acquiring an additional 242 shares during the last quarter. Gulf International Bank UK Ltd increased its holdings 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 worth $60,000 after acquiring an additional 75 shares during the period. First Horizon Advisors Inc. lifted 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 valued at $74,000 after purchasing an additional 141 shares during the last quarter. Finally, Spire Wealth Management boosted its stake in FirstService by 88.1% during the 1st quarter. Spire Wealth Management now owns 457 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 214 shares during the period. 69.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

FirstService Stock Performance

FSV opened at $182.07 on Friday. The business has a 50 day moving average price of $170.90 and a two-hundred day moving average price of $160.65. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 90.13 and a beta of 1.05. FirstService Co. has a 1-year low of $134.77 and a 1-year high of $182.29.

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

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 30th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 0.55%. FirstService’s dividend payout ratio is currently 49.51%.

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.