Jacobson & Schmitt Advisors LLC Buys 442 Shares of FirstService Corporation $FSV

Jacobson & Schmitt Advisors LLC raised its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 0.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 96,753 shares of the financial services provider’s stock after purchasing an additional 442 shares during the quarter. FirstService accounts for about 3.0% of Jacobson & Schmitt Advisors LLC’s portfolio, making the stock its 11th largest position. Jacobson & Schmitt Advisors LLC’s holdings in FirstService were worth $16,895,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of FirstService by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,815,548 shares of the financial services provider’s stock worth $301,051,000 after buying an additional 20,872 shares during the last quarter. Orbis Allan Gray Ltd increased its holdings in shares of FirstService by 18.8% in the 1st quarter. Orbis Allan Gray Ltd now owns 1,417,190 shares of the financial services provider’s stock worth $235,183,000 after buying an additional 224,125 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of FirstService by 2.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 671,431 shares of the financial services provider’s stock worth $111,424,000 after buying an additional 15,334 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of FirstService by 27.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 533,385 shares of the financial services provider’s stock worth $88,459,000 after buying an additional 115,898 shares during the last quarter. Finally, William Blair Investment Management LLC increased its holdings in shares of FirstService by 1.1% in the 2nd quarter. William Blair Investment Management LLC now owns 511,487 shares of the financial services provider’s stock worth $89,316,000 after buying an additional 5,542 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FSV. TD Securities set a $213.00 target price on shares of FirstService in a report on Friday, October 24th. Scotiabank raised shares of FirstService from a “sector perform” rating to a “sector outperform” rating and reduced their target price for the company from $220.00 to $205.00 in a report on Friday, October 24th. Raymond James Financial reduced their target price on shares of FirstService from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Wall Street Zen lowered shares of FirstService from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of FirstService in a report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $212.17.

FirstService Trading Down 1.0%

Shares of FSV opened at $155.64 on Wednesday. The stock has a market capitalization of $7.11 billion, a P/E ratio of 51.54 and a beta of 0.99. The company has a quick ratio of 1.76, a current ratio of 1.73 and a debt-to-equity ratio of 0.90. The firm has a fifty day simple moving average of $187.87 and a two-hundred day simple moving average of $183.67. FirstService Corporation has a twelve month low of $153.13 and a twelve month high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $1.76 earnings per share for the quarter, meeting the consensus estimate of $1.76. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.47 billion. FirstService had a net margin of 2.53% and a return on equity of 17.98%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.63 EPS. On average, research analysts anticipate that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.10 annualized dividend and a yield of 0.7%. FirstService’s dividend payout ratio is presently 36.42%.

About FirstService

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.