Deutsche Bank AG lifted its stake in shares of FirstService Corp (NASDAQ:FSV) (TSE:FSV) by 25.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 189,669 shares of the financial services provider’s stock after buying an additional 38,345 shares during the quarter. Deutsche Bank AG owned about 0.55% of FirstService worth $12,987,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Neuberger Berman Group LLC increased its holdings in FirstService by 6.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,075,770 shares of the financial services provider’s stock valued at $91,075,000 after buying an additional 69,251 shares during the period. Vanguard Group Inc increased its holdings in FirstService by 5.2% in the 3rd quarter. Vanguard Group Inc now owns 849,073 shares of the financial services provider’s stock valued at $71,883,000 after buying an additional 42,007 shares during the period. Vanguard Group Inc. increased its holdings in FirstService by 5.2% in the 3rd quarter. Vanguard Group Inc. now owns 849,073 shares of the financial services provider’s stock valued at $71,883,000 after buying an additional 42,007 shares during the period. Bank of Montreal Can increased its holdings in FirstService by 3.5% in the 4th quarter. Bank of Montreal Can now owns 758,307 shares of the financial services provider’s stock valued at $51,929,000 after buying an additional 25,441 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in FirstService by 4.3% in the 4th quarter. CIBC Asset Management Inc now owns 622,319 shares of the financial services provider’s stock valued at $42,720,000 after buying an additional 25,630 shares during the period. Institutional investors own 70.62% of the company’s stock.
FSV opened at $89.39 on Tuesday. FirstService Corp has a fifty-two week low of $64.87 and a fifty-two week high of $90.21. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 49.66 and a beta of 0.99.
FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Wednesday, February 6th. The financial services provider reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.31). FirstService had a return on equity of 31.55% and a net margin of 3.41%. The business had revenue of $503.31 million for the quarter, compared to the consensus estimate of $481.54 million. During the same period in the previous year, the firm earned $0.49 earnings per share. The company’s revenue was up 13.5% compared to the same quarter last year. Equities research analysts forecast that FirstService Corp will post 1.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 29th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.67%. This is a positive change from FirstService’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, March 28th. FirstService’s payout ratio is presently 33.33%.
Several brokerages recently issued reports on FSV. Zacks Investment Research lowered shares of FirstService from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. BidaskClub lowered shares of FirstService from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. William Blair reaffirmed a “market perform” rating on shares of FirstService in a report on Wednesday, February 6th. Royal Bank of Canada lifted their price target on shares of FirstService from $88.00 to $92.00 and gave the company a “sector perform” rating in a report on Thursday, February 7th. Finally, ValuEngine raised shares of FirstService from a “hold” rating to a “buy” rating in a report on Saturday, January 5th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $89.00.
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FirstService Company Profile
FirstService Corporation, together with its subsidiaries, provides residential property services to residential and commercial customers in the United States and Canada. The company operates through two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment provides property management services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.
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