Lionstone Capital Management LLC boosted its holdings in shares of FirstService Corporation (NASDAQ:FSV – Free Report) (TSE:FSV) by 13.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 245,720 shares of the financial services provider’s stock after purchasing an additional 29,520 shares during the period. FirstService makes up 8.8% of Lionstone Capital Management LLC’s investment portfolio, making the stock its 6th largest holding. Lionstone Capital Management LLC owned about 0.54% of FirstService worth $38,217,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in FSV. Magnetar Financial LLC grew its stake in shares of FirstService by 15.5% in the 4th quarter. Magnetar Financial LLC now owns 11,118 shares of the financial services provider’s stock valued at $1,729,000 after purchasing an additional 1,495 shares during the last quarter. Norwood Investment Partners LP raised its stake in shares of FirstService by 100.0% during the fourth quarter. Norwood Investment Partners LP now owns 40,000 shares of the financial services provider’s stock worth $6,221,000 after purchasing an additional 20,000 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in shares of FirstService during the fourth quarter worth approximately $4,277,000. Squarepoint Ops LLC acquired a new stake in shares of FirstService during the fourth quarter worth $257,000. Finally, TritonPoint Partners LLC purchased a new position in FirstService in the 4th quarter valued at $332,000. 69.35% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the stock. Loop Capital assumed coverage on shares of FirstService in a research note on Monday, May 4th. They set a “hold” rating and a $140.00 price target on the stock. Stifel Nicolaus reduced their price objective on shares of FirstService from $215.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Scotiabank dropped their target price on FirstService from $205.00 to $190.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 24th. TD Securities set a $204.00 target price on FirstService in a research note on Friday, April 24th. Finally, TD Cowen reissued a “buy” rating and issued a $204.00 price target on shares of FirstService in a report on Wednesday, June 3rd. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, FirstService presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.22.
FirstService Trading Down 0.7%
NASDAQ:FSV opened at $142.69 on Wednesday. FirstService Corporation has a 52-week low of $119.41 and a 52-week high of $209.66. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.74. The stock has a fifty day simple moving average of $139.20 and a 200-day simple moving average of $147.91. The company has a market capitalization of $6.56 billion, a PE ratio of 40.31, a price-to-earnings-growth ratio of 4.36 and a beta of 0.95.
FirstService (NASDAQ:FSV – Get Free Report) (TSE:FSV) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 EPS. On average, equities research analysts expect that FirstService Corporation will post 5.54 earnings per share for the current fiscal year.
FirstService Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th will be given a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th. FirstService’s payout ratio is currently 34.46%.
About FirstService
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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