TD Asset Management Inc grew its holdings in shares of FirstService Corporation (NASDAQ:FSV – Free Report) (TSE:FSV) by 46.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 421,603 shares of the financial services provider’s stock after purchasing an additional 133,632 shares during the quarter. TD Asset Management Inc owned approximately 0.92% of FirstService worth $65,645,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in FSV. Norges Bank purchased a new position in shares of FirstService during the 4th quarter worth $85,597,000. Durable Capital Partners LP lifted its stake in shares of FirstService by 12.9% during the 3rd quarter. Durable Capital Partners LP now owns 2,216,720 shares of the financial services provider’s stock worth $422,263,000 after purchasing an additional 253,155 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of FirstService by 79.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider’s stock worth $52,880,000 after purchasing an additional 141,152 shares during the period. William Blair Investment Management LLC lifted its stake in shares of FirstService by 19.9% during the 4th quarter. William Blair Investment Management LLC now owns 596,249 shares of the financial services provider’s stock worth $92,735,000 after purchasing an additional 98,808 shares during the period. Finally, Bank of Montreal Can lifted its stake in shares of FirstService by 27.8% during the 3rd quarter. Bank of Montreal Can now owns 416,766 shares of the financial services provider’s stock worth $79,389,000 after purchasing an additional 90,545 shares during the period. Hedge funds and other institutional investors own 69.35% of the company’s stock.
FirstService Trading Up 0.8%
Shares of FSV opened at $140.68 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $6.47 billion, a P/E ratio of 39.74, a price-to-earnings-growth ratio of 4.24 and a beta of 0.95. The stock’s fifty day simple moving average is $138.59 and its 200 day simple moving average is $148.44. FirstService Corporation has a twelve month low of $119.41 and a twelve month high of $209.66.
FirstService Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. FirstService’s dividend payout ratio (DPR) is 34.46%.
Analysts Set New Price Targets
A number of brokerages have weighed in on FSV. Stifel Nicolaus reduced their price target on FirstService from $215.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Weiss Ratings lowered FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. TD Cowen reissued a “buy” rating and set a $204.00 price target on shares of FirstService in a research note on Wednesday. Loop Capital began coverage on FirstService in a research note on Monday, May 4th. They set a “hold” rating and a $140.00 price target on the stock. Finally, Wall Street Zen raised FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, FirstService currently has a consensus rating of “Moderate Buy” and an average target price of $197.22.
Get Our Latest Analysis on FSV
FirstService Company 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.
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