Schwartz Investment Counsel Inc. Purchases 7,500 Shares of FirstService Corporation $FSV

Schwartz Investment Counsel Inc. lifted its position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 100.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,000 shares of the financial services provider’s stock after purchasing an additional 7,500 shares during the period. Schwartz Investment Counsel Inc.’s holdings in FirstService were worth $2,084,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Truist Financial Corp boosted its position in FirstService by 0.9% during the 4th quarter. Truist Financial Corp now owns 8,894 shares of the financial services provider’s stock worth $1,383,000 after buying an additional 77 shares during the period. Evergreen Capital Management LLC increased its position in FirstService by 5.6% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,462 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 77 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of FirstService by 63.7% during the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 79 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of FirstService by 88.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 81 shares during the period. Finally, Pathstone Holdings LLC lifted its holdings in shares of FirstService by 0.5% during the third quarter. Pathstone Holdings LLC now owns 17,021 shares of the financial services provider’s stock worth $3,242,000 after purchasing an additional 92 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Performance

Shares of FSV stock opened at $143.28 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.74. The firm has a fifty day simple moving average of $137.20 and a two-hundred day simple moving average of $146.08. FirstService Corporation has a 12 month low of $119.41 and a 12 month high of $209.66. The firm has a market capitalization of $6.59 billion, a PE ratio of 40.47, a price-to-earnings-growth ratio of 4.35 and a beta of 0.94.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $0.92 earnings per share. Analysts forecast that FirstService Corporation will post 5.55 EPS for the current fiscal year.

FirstService Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th were given a $0.305 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.22 annualized dividend and a yield of 0.9%. FirstService’s dividend payout ratio (DPR) is presently 34.46%.

Wall Street Analyst Weigh In

FSV has been the subject of a number of recent research reports. TD increased their price objective on FirstService from $201.00 to $204.00 and gave the company a “buy” rating in a report on Friday, April 24th. Scotiabank cut their target price on FirstService from $190.00 to $175.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Loop Capital assumed coverage on FirstService in a research report on Monday, May 4th. They issued a “hold” rating and a $140.00 price target on the stock. Stifel Nicolaus decreased their price target on FirstService from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Finally, TD Cowen restated a “buy” rating and set a $204.00 price objective on shares of FirstService in a research report on Wednesday, June 3rd. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $195.56.

FirstService Company Profile

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.