Massachusetts Financial Services Co. MA Has $21.40 Million Stock Holdings in FirstService Corporation $FSV

Massachusetts Financial Services Co. MA raised its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 40.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 137,612 shares of the financial services provider’s stock after purchasing an additional 39,686 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in FirstService were worth $21,403,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Personal CFO Solutions LLC increased its stake in FirstService by 14.9% in the 4th quarter. Personal CFO Solutions LLC now owns 1,601 shares of the financial services provider’s stock valued at $249,000 after buying an additional 208 shares during the period. Jacobson & Schmitt Advisors LLC increased its stake in FirstService by 52.4% in the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 144,994 shares of the financial services provider’s stock valued at $22,551,000 after buying an additional 49,829 shares during the period. Perigon Wealth Management LLC acquired a new position in FirstService in the 4th quarter valued at approximately $275,000. Louisbourg Investments Inc. bought a new stake in FirstService in the fourth quarter worth approximately $3,837,000. Finally, Avanza Fonder AB bought a new stake in FirstService in the fourth quarter worth approximately $670,000. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Performance

FSV stock opened at $149.25 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.79. The firm has a 50 day moving average of $147.86 and a two-hundred day moving average of $156.99. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of 47.23, a P/E/G ratio of 4.00 and a beta of 1.09. FirstService Corporation has a 12 month low of $133.42 and a 12 month high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.05. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. FirstService had a net margin of 2.64% and a return on equity of 18.69%. FirstService’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 EPS. As a group, equities analysts anticipate that FirstService Corporation will post 5.27 EPS for the current fiscal year.

FirstService Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 7th. Investors of record on Tuesday, March 31st were issued a dividend of $0.305 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. This is an increase from FirstService’s previous quarterly dividend of $0.28. FirstService’s payout ratio is currently 38.61%.

Analyst Ratings Changes

Several analysts have commented on the stock. Wall Street Zen raised shares of FirstService from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. TD Cowen decreased their target price on shares of FirstService from $217.00 to $201.00 and set a “buy” rating for the company in a research report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of FirstService in a research report on Friday, March 27th. BMO Capital Markets reissued an “outperform” rating and issued a $202.00 target price on shares of FirstService in a research report on Thursday, February 5th. Finally, TD Securities decreased their target price on shares of FirstService from $217.00 to $201.00 and set a “buy” rating for the company in a research report on Tuesday. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.86.

FirstService Profile

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.