Fenimore Asset Management Inc. Has $15.18 Million Holdings in FirstService Co. (NASDAQ:FSV)

Fenimore Asset Management Inc. increased its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 0.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 93,641 shares of the financial services provider’s stock after purchasing an additional 550 shares during the quarter. Fenimore Asset Management Inc.’s holdings in FirstService were worth $15,178,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its holdings in shares of FirstService by 126.6% during the third quarter. Exchange Traded Concepts LLC now owns 392 shares of the financial services provider’s stock worth $57,000 after buying an additional 219 shares in the last quarter. Power Corp of Canada acquired a new position in FirstService in the first quarter valued at about $60,000. Pinebridge Investments L.P. acquired a new position in FirstService in the second quarter valued at about $61,000. Signaturefd LLC raised its stake in FirstService by 28.5% in the third quarter. Signaturefd LLC now owns 500 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 111 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in FirstService in the third quarter valued at about $85,000. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Trading Down 2.0 %

FSV stock traded down $3.31 during trading on Tuesday, hitting $161.56. The company had a trading volume of 47,151 shares, compared to its average volume of 73,974. The business has a 50-day moving average of $166.26 and a 200-day moving average of $157.66. FirstService Co. has a one year low of $134.77 and a one year high of $171.94. The stock has a market cap of $7.27 billion, a PE ratio of 72.11 and a beta of 0.97. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.15.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Tuesday, February 6th. The financial services provider reported $1.03 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.04). FirstService had a net margin of 2.32% and a return on equity of 17.56%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. Research analysts predict that FirstService Co. will post 4.69 earnings per share for the current fiscal year.

FirstService Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.62%. This is a boost from FirstService’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Wednesday, March 27th. FirstService’s dividend payout ratio is presently 44.64%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. BMO Capital Markets dropped their price target on FirstService from $196.00 to $193.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. TheStreet downgraded FirstService from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th. Scotiabank boosted their target price on FirstService from $165.00 to $166.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, February 7th. Royal Bank of Canada reissued an “outperform” rating and set a $187.00 target price on shares of FirstService in a research note on Wednesday, February 7th. Finally, Raymond James boosted their target price on FirstService from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $177.29.

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.