Sargent Investment Group LLC Buys 2,050 Shares of FirstService Co. (NASDAQ:FSV)

Sargent Investment Group LLC increased its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,603 shares of the financial services provider’s stock after purchasing an additional 2,050 shares during the quarter. Sargent Investment Group LLC owned approximately 0.06% of FirstService worth $4,672,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. increased its stake in FirstService by 8,066.7% in the 2nd quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock worth $41,000 after buying an additional 242 shares in the last quarter. Benjamin Edwards Inc. grew its position in shares of FirstService by 35.0% during 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. Benjamin F. Edwards & Company Inc. grew its position in shares of FirstService by 49.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 138 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of FirstService during the third quarter valued at about $66,000. Finally, First Horizon Advisors Inc. grew its position in FirstService by 40.6% in the second 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. 69.35% of the stock is owned by institutional investors.

FirstService Stock Up 0.1 %

Shares of FSV traded up $0.24 during midday trading on Thursday, hitting $187.33. 12,003 shares of the company’s stock traded hands, compared to its average volume of 82,680. FirstService Co. has a 1 year low of $141.26 and a 1 year high of $192.71. The firm’s fifty day moving average is $183.61 and its 200-day moving average is $167.75. 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 stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 77.95 and a beta of 1.05.

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 for the quarter, topping the consensus estimate of $1.42 by $0.21. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm earned $1.18 EPS. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that FirstService Co. will post 4.58 earnings per share 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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, September 30th. FirstService’s dividend payout ratio (DPR) is 41.67%.

Analyst Upgrades and Downgrades

FSV has been the subject of several recent research reports. StockNews.com upgraded FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Scotiabank raised their price objective 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. Royal Bank of Canada raised their price objective on shares of FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Stifel Nicolaus raised their price objective on shares of FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, TD Securities lifted their price target on shares of FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $198.33.

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.