Daiwa Securities Group Inc. Has $4.71 Million Holdings in FirstService Corporation $FSV

Daiwa Securities Group Inc. lifted its holdings in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 1,978.6% in the 4th quarter, Holdings Channel reports. The firm owned 30,265 shares of the financial services provider’s stock after buying an additional 28,809 shares during the quarter. Daiwa Securities Group Inc.’s holdings in FirstService were worth $4,707,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. M&T Bank Corp acquired a new stake in shares of FirstService in the 4th quarter valued at $6,120,000. Captrust Financial Advisors lifted its stake in shares of FirstService by 3.0% in the 3rd quarter. Captrust Financial Advisors now owns 247,931 shares of the financial services provider’s stock valued at $47,228,000 after purchasing an additional 7,136 shares during the last quarter. UBS Group AG raised its holdings in FirstService by 40.5% in the 4th quarter. UBS Group AG now owns 174,467 shares of the financial services provider’s stock worth $27,135,000 after acquiring an additional 50,263 shares during the period. Copeland Capital Management LLC raised its holdings in FirstService by 3.3% in the 4th quarter. Copeland Capital Management LLC now owns 346,042 shares of the financial services provider’s stock worth $53,820,000 after acquiring an additional 10,970 shares during the period. Finally, Louisbourg Investments Inc. bought a new position in FirstService in the 4th quarter worth $3,837,000. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Performance

NASDAQ:FSV opened at $138.40 on Tuesday. The firm’s 50-day moving average is $138.60 and its 200-day moving average is $148.33. FirstService Corporation has a 52-week low of $119.41 and a 52-week high of $209.66. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 39.10, a PEG ratio of 4.27 and a beta of 0.95.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that FirstService Corporation will post 5.54 earnings per share for the current year.

FirstService Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.305 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.22 annualized dividend and a dividend yield of 0.9%. FirstService’s payout ratio is presently 34.46%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Weiss Ratings downgraded shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Wall Street Zen upgraded shares of FirstService from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Scotiabank dropped their target price on shares of FirstService from $205.00 to $190.00 and set a “sector outperform” rating on the stock in a report on Friday, April 24th. TD lifted their target price on shares of FirstService from $201.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Loop Capital assumed coverage on shares of FirstService in a report on Monday, May 4th. They issued a “hold” rating and a $140.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, FirstService presently has an average rating of “Moderate Buy” and a consensus price target of $197.22.

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.