FirstService Corporation $FSV Shares Bought by 111 Capital

111 Capital increased its holdings in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 58.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,035 shares of the financial services provider’s stock after purchasing an additional 748 shares during the quarter. 111 Capital’s holdings in FirstService were worth $355,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in FSV. Vanguard Group Inc. lifted its position in shares of FirstService by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,815,548 shares of the financial services provider’s stock valued at $301,051,000 after acquiring an additional 20,872 shares during the last quarter. Orbis Allan Gray Ltd raised its position in shares of FirstService by 18.8% during the first quarter. Orbis Allan Gray Ltd now owns 1,417,190 shares of the financial services provider’s stock worth $235,183,000 after purchasing an additional 224,125 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of FirstService by 2.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 671,431 shares of the financial services provider’s stock valued at $111,424,000 after purchasing an additional 15,334 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of FirstService by 27.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 533,385 shares of the financial services provider’s stock valued at $88,459,000 after purchasing an additional 115,898 shares during the period. Finally, Copeland Capital Management LLC increased its stake in FirstService by 7.2% in the 1st quarter. Copeland Capital Management LLC now owns 382,852 shares of the financial services provider’s stock worth $63,534,000 after purchasing an additional 25,829 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on FSV shares. Zacks Research lowered shares of FirstService from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Scotiabank boosted their price target on shares of FirstService from $210.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research report on Sunday, September 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of FirstService in a research report on Saturday, September 27th. Finally, TD Securities restated a “hold” rating on shares of FirstService in a report on Thursday, September 4th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $217.75.

FirstService Trading Up 0.5%

Shares of NASDAQ FSV opened at $188.72 on Monday. The business has a 50 day simple moving average of $198.22 and a 200 day simple moving average of $182.53. FirstService Corporation has a 52 week low of $153.13 and a 52 week high of $209.66. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 60.49 and a beta of 0.99. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.76 and a current ratio of 1.76.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.26. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the company earned $1.36 earnings per share. The company’s revenue was up 9.1% compared to the same quarter last year. On average, research analysts predict that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 30th. FirstService’s dividend payout ratio is presently 35.26%.

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.