Nicola Wealth Management LTD. Invests $7.84 Million in FirstService Corporation $FSV

Nicola Wealth Management LTD. acquired a new position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 50,390 shares of the financial services provider’s stock, valued at approximately $7,837,000. Nicola Wealth Management LTD. owned approximately 0.11% of FirstService as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in FSV. JPL Wealth Management LLC acquired a new position in shares of FirstService during the 3rd quarter worth about $26,000. Geneos Wealth Management Inc. raised its stake in FirstService by 63.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 79 shares in the last quarter. Strs Ohio purchased a new stake in FirstService in the first quarter valued at $38,000. EverSource Wealth Advisors LLC lifted its position in FirstService by 400.0% in the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 292 shares during the last quarter. Finally, Sagard Holdings Management Inc. purchased a new stake in FirstService in the third quarter valued at $79,000. 69.35% of the stock is owned by institutional investors and hedge funds.

FirstService Price Performance

Shares of NASDAQ FSV opened at $131.66 on Monday. The stock has a market cap of $6.05 billion, a PE ratio of 37.19, a price-to-earnings-growth ratio of 4.00 and a beta of 0.97. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.74. FirstService Corporation has a 52-week low of $119.41 and a 52-week high of $209.66. The business has a 50-day moving average price of $139.18 and a 200 day moving average price of $149.69.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. FirstService had a return on equity of 17.91% and a net margin of 2.92%.The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. Equities research analysts forecast 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. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.305 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.22 annualized dividend and a yield of 0.9%. FirstService’s dividend payout ratio is currently 34.46%.

Wall Street Analyst Weigh In

FSV has been the topic of a number of research analyst reports. TD Cowen cut their target price on FirstService from $217.00 to $201.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Wall Street Zen raised FirstService from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Stifel Nicolaus decreased their target price on FirstService from $215.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Scotiabank decreased their target price on FirstService from $205.00 to $190.00 and set a “sector outperform” rating for the company in a research report on Friday, April 24th. Finally, Loop Capital started coverage on FirstService in a research report on Monday, May 4th. They issued a “hold” rating and a $140.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $196.89.

FirstService 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.