Fenimore Asset Management Inc lifted its holdings in shares of FirstService Corporation (NASDAQ:FSV – Free Report) (TSE:FSV) by 6.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 130,824 shares of the financial services provider’s stock after purchasing an additional 8,426 shares during the quarter. Fenimore Asset Management Inc’s holdings in FirstService were worth $16,730,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Bessemer Group Inc. increased its stake in FirstService by 52.2% during the 1st quarter. Bessemer Group Inc. now owns 191,970 shares of the financial services provider’s stock worth $26,672,000 after buying an additional 65,830 shares during the period. Bank of America Corp DE grew its stake in shares of FirstService by 8.2% in the first quarter. Bank of America Corp DE now owns 240,316 shares of the financial services provider’s stock worth $33,390,000 after acquiring an additional 18,146 shares in the last quarter. Sei Investments Co. increased its position in shares of FirstService by 59.2% during the first quarter. Sei Investments Co. now owns 63,388 shares of the financial services provider’s stock worth $8,806,000 after acquiring an additional 23,577 shares during the period. Nykredit A S purchased a new stake in shares of FirstService during the second quarter worth $1,585,000. Finally, TD Waterhouse Canada Inc. raised its stake in shares of FirstService by 13.9% in the second quarter. TD Waterhouse Canada Inc. now owns 66,437 shares of the financial services provider’s stock valued at $9,519,000 after acquiring an additional 8,084 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently commented on FSV. Wall Street Zen cut FirstService from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. TD Securities reissued a “buy” rating and set a $195.00 price objective on shares of FirstService in a research report on Friday, July 24th. TD upped their target price on shares of FirstService from $204.00 to $207.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of FirstService in a report on Wednesday, August 26th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $144.00 price target on shares of FirstService in a research note on Friday, July 24th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $184.20.
FirstService Stock Up 1.1%
FirstService stock traded up $1.35 during mid-day trading on Thursday, hitting $128.22. The company had a trading volume of 81,999 shares, compared to its average volume of 215,401. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.03. FirstService Corporation has a 1 year low of $119.41 and a 1 year high of $189.05. The business has a fifty day moving average of $137.60 and a 200 day moving average of $138.99. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 2.85 and a beta of 0.95.
FirstService (NASDAQ:FSV – Get Free Report) (TSE:FSV) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.04. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.44 billion. FirstService had a net margin of 2.88% and a return on equity of 18.07%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.71 EPS. On average, sell-side analysts expect that FirstService Corporation will post 5.61 earnings per share for the current fiscal year.
FirstService Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.3050 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.22 annualized dividend and a dividend yield of 1.0%. FirstService’s dividend payout ratio (DPR) is presently 34.56%.
FirstService Profile
FirstService Corporation is a North American property services company headquartered in Toronto, Canada. The company provides services to residential and commercial properties through two primary business segments: FirstService Residential and FirstService Brands.
FirstService Residential provides property management and related services for condominium, cooperative, homeowners’ association and other residential communities. Its services include community administration, financial management, maintenance coordination, customer support and project management.
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