Venturi Wealth Management LLC Purchases New Stake in FirstService Co. (NASDAQ:FSV)

Venturi Wealth Management LLC acquired a new position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 363 shares of the financial services provider’s stock, valued at approximately $66,000.

A number of other large investors have also recently made changes to their positions in the business. State of New Jersey Common Pension Fund D raised its stake in shares of FirstService by 121.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 8,380 shares of the financial services provider’s stock worth $1,529,000 after purchasing an additional 4,595 shares during the last quarter. Sustainable Insight Capital Management LLC purchased a new stake in FirstService in the 3rd quarter valued at $454,000. Kornitzer Capital Management Inc. KS lifted its stake in FirstService by 57.6% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 3,735 shares of the financial services provider’s stock valued at $681,000 after acquiring an additional 1,365 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in FirstService by 218.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,475 shares of the financial services provider’s stock worth $999,000 after acquiring an additional 3,754 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its stake in shares of FirstService by 1.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,449,933 shares of the financial services provider’s stock worth $264,555,000 after acquiring an additional 23,082 shares in the last quarter. 69.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

FirstService Stock Down 1.0 %

Shares of NASDAQ FSV opened at $185.26 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $8.36 billion, a PE ratio of 77.19 and a beta of 1.05. FirstService Co. has a one year low of $141.26 and a one year high of $192.71. The business’s fifty day moving average price is $183.74 and its 200-day moving average price is $167.87.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its 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 net margin of 2.19% and a return on equity of 16.68%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business earned $1.18 earnings per share. The company’s quarterly revenue was up 25.0% on a year-over-year basis. On average, equities research analysts anticipate that FirstService Co. will post 4.58 EPS for the current year.

FirstService Dividend Announcement

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 dividend of $0.25 per share. The ex-dividend date of this dividend 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 41.67%.

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.