Hilltop National Bank Decreases Holdings in FirstService Co. (NASDAQ:FSV)

Hilltop National Bank cut its holdings in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 6.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,056 shares of the financial services provider’s stock after selling 71 shares during the quarter. Hilltop National Bank’s holdings in FirstService were worth $191,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FSV. Franklin Resources Inc. increased its stake in shares of FirstService by 486.3% in the third quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider’s stock worth $87,308,000 after buying an additional 389,129 shares during the period. Millennium Management LLC increased its stake in shares of FirstService by 2,136.1% in the second quarter. Millennium Management LLC now owns 209,297 shares of the financial services provider’s stock worth $31,853,000 after buying an additional 199,937 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of FirstService by 6.8% in the second quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider’s stock worth $415,427,000 after buying an additional 174,970 shares during the period. Bank of Montreal Can increased its stake in shares of FirstService by 19.7% in the third quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider’s stock worth $69,992,000 after buying an additional 63,807 shares during the period. Finally, Boston Financial Mangement LLC increased its stake in shares of FirstService by 25.3% in the third quarter. Boston Financial Mangement LLC now owns 246,673 shares of the financial services provider’s stock worth $45,008,000 after buying an additional 49,790 shares during the period. 69.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Scotiabank lifted their target price on shares of FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 15th. Stifel Nicolaus boosted their price objective on shares of FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, October 21st. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, TD Securities boosted their price objective on shares of FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Two 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.33.

FirstService Stock Performance

Shares of FSV stock opened at $174.61 on Friday. FirstService Co. has a 12 month low of $141.26 and a 12 month high of $197.84. The stock has a market cap of $7.90 billion, a PE ratio of 72.75 and a beta of 1.06. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.13. The company’s fifty day moving average price is $186.98 and its 200-day moving average price is $178.43.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.21. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.32 billion. FirstService had a net margin of 2.19% and a return on equity of 16.68%. FirstService’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.18 EPS. On average, equities analysts expect 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 was paid on Tuesday, January 7th. Investors of record on Tuesday, December 31st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was 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.