Sei Investments Co. Grows Stock Holdings in FirstService Corporation $FSV

Sei Investments Co. boosted its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 59.2% during the first quarter, Holdings Channel reports. The firm owned 63,388 shares of the financial services provider’s stock after purchasing an additional 23,577 shares during the quarter. Sei Investments Co.’s holdings in FirstService were worth $8,806,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FSV. The Manufacturers Life Insurance Company grew its position in FirstService by 493.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,775,353 shares of the financial services provider’s stock worth $432,173,000 after purchasing an additional 2,307,684 shares during the period. Durable Capital Partners LP raised its stake in FirstService by 12.9% during the 3rd quarter. Durable Capital Partners LP now owns 2,216,720 shares of the financial services provider’s stock valued at $422,263,000 after buying an additional 253,155 shares during the last quarter. Orbis Allan Gray Ltd lifted its holdings in shares of FirstService by 36.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 1,984,677 shares of the financial services provider’s stock valued at $308,677,000 after buying an additional 530,489 shares during the period. Vanguard Group Inc. lifted its holdings in shares of FirstService by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 1,954,819 shares of the financial services provider’s stock valued at $304,000,000 after buying an additional 29,805 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of FirstService by 15.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,791,116 shares of the financial services provider’s stock worth $278,247,000 after buying an additional 239,941 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Trading Down 2.5%

Shares of FSV stock opened at $140.89 on Friday. FirstService Corporation has a 1 year low of $119.41 and a 1 year high of $209.66. The firm has a fifty day moving average price of $140.60 and a 200-day moving average price of $144.92. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.58 and a quick ratio of 1.66. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 39.91, a PEG ratio of 3.12 and a beta of 0.94.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.71 by $0.04. FirstService had a return on equity of 18.07% and a net margin of 2.88%.The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the company earned $1.71 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts predict that FirstService Corporation will post 5.61 earnings per share for the current year.

FirstService Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 30th were paid a $0.305 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.9%. FirstService’s dividend payout ratio is 34.56%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FSV shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of FirstService in a report on Friday, July 24th. Scotiabank set a $170.00 target price on FirstService in a report on Friday, July 24th. TD Cowen reissued a “buy” rating and issued a $204.00 target price on shares of FirstService in a research report on Wednesday, June 3rd. TD boosted their price target on FirstService from $204.00 to $207.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $144.00 price target on shares of FirstService in a research report on Friday, July 24th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $184.20.

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.