ARS Wealth Advisors Group LLC Buys New Shares in FirstService Corporation $FSV

ARS Wealth Advisors Group LLC bought a new stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,000 shares of the financial services provider’s stock, valued at approximately $2,270,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fiera Capital Corp lifted its position in FirstService by 3.9% during the first quarter. Fiera Capital Corp now owns 268,935 shares of the financial services provider’s stock valued at $44,639,000 after purchasing an additional 10,087 shares in the last quarter. TD Asset Management Inc lifted its position in shares of FirstService by 61.6% in the first quarter. TD Asset Management Inc now owns 335,542 shares of the financial services provider’s stock valued at $55,637,000 after acquiring an additional 127,846 shares in the last quarter. Summit Creek Advisors LLC lifted its position in shares of FirstService by 8.4% in the first quarter. Summit Creek Advisors LLC now owns 115,245 shares of the financial services provider’s stock valued at $19,125,000 after acquiring an additional 8,961 shares in the last quarter. Baskin Financial Services Inc. lifted its position in shares of FirstService by 0.6% in the first quarter. Baskin Financial Services Inc. now owns 251,850 shares of the financial services provider’s stock valued at $41,757,000 after acquiring an additional 1,588 shares in the last quarter. Finally, Spire Wealth Management lifted its position in shares of FirstService by 52.1% in the first quarter. Spire Wealth Management now owns 543 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 186 shares in the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Trading Down 0.8%

Shares of NASDAQ FSV opened at $201.60 on Friday. The business’s 50 day moving average is $195.95 and its two-hundred day moving average is $180.59. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.76 and a quick ratio of 1.76. FirstService Corporation has a 1-year low of $153.13 and a 1-year high of $209.66. The stock has a market capitalization of $9.19 billion, a P/E ratio of 64.62 and a beta of 0.96.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.26. FirstService had a return on equity of 18.24% and a net margin of 2.61%.The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the firm posted $1.36 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts expect that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 30th. FirstService’s payout ratio is presently 35.26%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FSV. Scotiabank boosted their price objective on FirstService from $210.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded FirstService from a “hold” rating to a “buy” rating in a research report on Sunday, September 7th. Finally, TD Securities restated a “hold” rating on shares of FirstService in a research report on Thursday, September 4th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $217.75.

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.