Sustainable Insight Capital Management LLC Makes New Investment in FirstService Co. (NASDAQ:FSV)

Sustainable Insight Capital Management LLC purchased a new stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,487 shares of the financial services provider’s stock, valued at approximately $454,000.

Several other large investors also recently bought and sold shares of the business. Blue Trust Inc. lifted its position in FirstService by 8,066.7% during the second quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 242 shares during the period. Benjamin Edwards Inc. grew its holdings in shares of FirstService by 35.0% in the second quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 91 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in 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 acquiring an additional 138 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in FirstService by 40.6% in the second quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 141 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of FirstService by 20.5% during the 2nd quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 108 shares during the period. 69.35% of the stock is currently owned by institutional investors.

FirstService Stock Performance

NASDAQ:FSV opened at $188.05 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.84 and a debt-to-equity ratio of 1.13. FirstService Co. has a 12-month low of $141.26 and a 12-month high of $192.71. The stock has a 50-day moving average price of $183.15 and a 200 day moving average price of $167.02. The stock has a market capitalization of $8.48 billion, a P/E ratio of 78.35 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm posted $1.18 EPS. The company’s revenue was up 25.0% on a year-over-year basis. Equities research analysts forecast that FirstService Co. will post 4.58 EPS for the current fiscal year.

FirstService Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 0.53%. The ex-dividend date was Monday, September 30th. FirstService’s payout ratio is currently 41.67%.

Wall Street Analyst Weigh In

FSV has been the topic of a number of research reports. 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 report on Tuesday, October 15th. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. TD Securities raised their target price on FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Royal Bank of Canada boosted their price target on FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus raised their price objective on FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.