FirstService Corporation $FSV Holdings Raised by Legal & General Group Plc

Legal & General Group Plc boosted its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 265,074 shares of the financial services provider’s stock after buying an additional 3,909 shares during the quarter. Legal & General Group Plc’s holdings in FirstService were worth $41,277,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FSV. JPL Wealth Management LLC purchased a new stake in FirstService in the 3rd quarter worth approximately $26,000. Geneos Wealth Management Inc. lifted its position in FirstService by 63.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after buying an additional 79 shares in the last quarter. Strs Ohio purchased a new stake in FirstService in the 1st quarter worth approximately $38,000. EverSource Wealth Advisors LLC lifted its position in FirstService by 400.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock worth $64,000 after buying an additional 292 shares in the last quarter. Finally, Sagard Holdings Management Inc. purchased a new stake in FirstService in the 3rd quarter worth approximately $79,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Loop Capital assumed coverage on shares of FirstService in a research report on Monday, May 4th. They issued a “hold” rating and a $140.00 target price for the company. TD Cowen cut their price target on shares of FirstService from $217.00 to $201.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. BMO Capital Markets restated an “outperform” rating and set a $202.00 price target on shares of FirstService in a report on Thursday, February 5th. TD Securities set a $204.00 price target on shares of FirstService in a report on Friday, April 24th. Finally, Wall Street Zen upgraded shares of FirstService from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $196.89.

FirstService Stock Performance

Shares of FSV opened at $134.20 on Friday. The company has a market capitalization of $6.17 billion, a PE ratio of 37.91, a price-to-earnings-growth ratio of 4.08 and a beta of 0.97. FirstService Corporation has a one year low of $119.41 and a one year high of $209.66. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.66 and a quick ratio of 1.66. The company’s fifty day moving average price is $138.47 and its 200 day moving average price is $149.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.89 by $0.06. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. As a group, analysts expect that FirstService Corporation will post 5.54 earnings per share for the current year.

FirstService Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th will be issued a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, June 30th. FirstService’s dividend payout ratio (DPR) is 34.46%.

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.