FirstService Corporation $FSV Position Raised by King Luther Capital Management Corp

King Luther Capital Management Corp raised its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 15.7% during the third quarter, Holdings Channel reports. The fund owned 48,396 shares of the financial services provider’s stock after buying an additional 6,571 shares during the period. King Luther Capital Management Corp’s holdings in FirstService were worth $6,189,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in FirstService by 23.7% during the first quarter. Fifth Third Bancorp now owns 627 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 120 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in FirstService during the 2nd quarter worth about $220,000. State of Wyoming purchased a new stake in FirstService during the 1st quarter worth about $247,000. Vise Technologies Inc. bought a new position in FirstService in the 3rd quarter worth about $290,000. Finally, Hilltop National Bank boosted its stake in FirstService by 4.1% in the 2nd quarter. Hilltop National Bank now owns 2,055 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 81 shares during the period. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Price Performance

NASDAQ:FSV opened at $154.16 on Friday. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 47.00, a P/E/G ratio of 2.94 and a beta of 0.89. FirstService Corporation has a 52-week low of $119.41 and a 52-week high of $166.73. The stock has a fifty day moving average of $137.91 and a 200 day moving average of $142.07. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.56 and a current ratio of 1.56.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Thursday, October 22nd. The financial services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.84 by $0.05. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. FirstService had a return on equity of 19.66% and a net margin of 2.59%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.76 earnings per share. On average, research analysts expect that FirstService Corporation will post 5.63 EPS for the current fiscal year.

FirstService Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.3050 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, September 30th. FirstService’s dividend payout ratio (DPR) is 37.20%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FSV shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $179.00 target price on shares of FirstService in a report on Friday, October 23rd. Weiss Ratings lowered shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, November 4th. TD boosted their price objective on shares of FirstService from $195.00 to $203.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Scotiabank reaffirmed an “outperform” rating on shares of FirstService in a research note on Friday, October 23rd. Finally, Wall Street Zen raised shares of FirstService from a “hold” rating to a “buy” rating in a report on Saturday, November 7th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.82.

FirstService Profile

FirstService Corporation is a North American property services company operating through two primary businesses: FirstService Residential and FirstService Brands. The company serves residential communities and property owners in the United States and Canada. FirstService Residential provides property management services to condominium and homeowner associations, as well as other residential communities. Its services include day-to-day community operations, maintenance coordination, financial administration and support for boards and residents.