Baskin Financial Services Inc. Grows Position in FirstService Corporation (NASDAQ:FSV)

Baskin Financial Services Inc. raised its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 0.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,850 shares of the financial services provider’s stock after acquiring an additional 1,588 shares during the period. FirstService comprises approximately 3.4% of Baskin Financial Services Inc.’s investment portfolio, making the stock its 15th largest holding. Baskin Financial Services Inc. owned 0.55% of FirstService worth $41,757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Northern Trust Corp grew its holdings in shares of FirstService by 41.7% in the fourth quarter. Northern Trust Corp now owns 64,496 shares of the financial services provider’s stock valued at $11,675,000 after acquiring an additional 18,977 shares in the last quarter. Ritholtz Wealth Management purchased a new position in FirstService in the first quarter worth $360,000. Millennium Management LLC grew its stake in FirstService by 130.6% in the 4th quarter. Millennium Management LLC now owns 27,090 shares of the financial services provider’s stock valued at $4,904,000 after purchasing an additional 15,343 shares during the period. Bessemer Group Inc. grew its stake in FirstService by 6.6% in the 1st quarter. Bessemer Group Inc. now owns 166,205 shares of the financial services provider’s stock valued at $27,582,000 after purchasing an additional 10,244 shares during the period. Finally, Spire Wealth Management increased its position in shares of FirstService by 52.1% during the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 186 shares during the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Trading Up 0.3%

Shares of FSV stock opened at $176.15 on Thursday. The company has a market capitalization of $8.01 billion, a PE ratio of 60.95 and a beta of 0.99. FirstService Corporation has a 52-week low of $152.32 and a 52-week high of $197.84. The business’s fifty day moving average is $175.08 and its 200 day moving average is $174.99. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.94 and a current ratio of 1.94.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.08. FirstService had a return on equity of 17.49% and a net margin of 2.46%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the firm posted $0.67 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts anticipate that FirstService Corporation will post 5.27 EPS for the current fiscal year.

FirstService Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 30th will be paid a $0.275 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.10 dividend on an annualized basis and a yield of 0.62%. FirstService’s dividend payout ratio is presently 38.06%.

Analyst Upgrades and Downgrades

FSV has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of FirstService from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. TD Securities boosted their target price on shares of FirstService from $198.00 to $200.00 and gave the company a “hold” rating in a research note on Wednesday, May 7th. Finally, Scotiabank decreased their price target on shares of FirstService from $217.50 to $210.00 and set a “sector perform” rating for the company in a research note on Thursday, April 17th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $208.40.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers 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.