Bessemer Group Inc. decreased its holdings in shares of FirstService Corporation (NASDAQ:FSV – Free Report) (TSE:FSV) by 36.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 126,140 shares of the financial services provider’s stock after selling 73,306 shares during the quarter. Bessemer Group Inc.’s holdings in FirstService were worth $19,619,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. JPL Wealth Management LLC bought a new stake in shares of FirstService during the 3rd quarter valued at $26,000. Geneos Wealth Management Inc. raised its position in shares of FirstService by 63.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 79 shares during the last quarter. Strs Ohio bought a new stake in shares of FirstService during the 1st quarter valued at $38,000. EverSource Wealth Advisors LLC raised its position in shares of FirstService by 400.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 292 shares during the last quarter. Finally, Sagard Holdings Management Inc. bought a new stake in shares of FirstService during the 3rd quarter valued at $79,000. Institutional investors own 69.35% of the company’s stock.
Analysts Set New Price Targets
Several analysts have commented on FSV shares. Scotiabank dropped their target price on shares of FirstService from $205.00 to $190.00 and set a “sector outperform” rating for the company in a research report on Friday, April 24th. TD upped their price objective on shares of FirstService from $201.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, April 24th. TD Cowen lowered their price objective on shares of FirstService from $217.00 to $201.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. BMO Capital Markets restated an “outperform” rating and issued a $202.00 price objective on shares of FirstService in a research report on Thursday, February 5th. Finally, Loop Capital began coverage on shares of FirstService in a research report on Monday, May 4th. They issued a “hold” rating and a $140.00 price objective for the company. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, FirstService currently has an average rating of “Moderate Buy” and an average target price of $196.89.
FirstService Price Performance
FSV opened at $129.70 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.74. FirstService Corporation has a 12 month low of $124.37 and a 12 month high of $209.66. The company has a fifty day simple moving average of $140.96 and a 200 day simple moving average of $150.72. The stock has a market cap of $5.96 billion, a P/E ratio of 36.64, a P/E/G ratio of 3.94 and a beta of 0.97.
FirstService (NASDAQ:FSV – Get Free Report) (TSE:FSV) last released 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. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the company earned $0.92 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts expect that FirstService Corporation will post 5.54 EPS for the current year.
FirstService Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th will be paid a $0.305 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.22 dividend on an annualized basis and a yield of 0.9%. FirstService’s dividend payout ratio is presently 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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