170,544 FirstService Corporation $FSV Shares Bought by BCV Asset Management Inc.

Key Points

• BCV Asset Management increased its FirstService stake by 33.7% in the third quarter, buying 170,544 shares. It now holds 677,078 shares, worth about $87.3 million, and FirstService represents 2.7% of its portfolio.
• FirstService beat quarterly estimates, reporting EPS of $1.89 versus $1.84 expected and revenue of $1.51 billion versus $1.48 billion; revenue rose 5.8% year over year.
• Analyst sentiment is moderately positive: eight analysts rate the stock Buy and four Hold, with a consensus price target of $179.82. The company also pays an annualized dividend of $1.22 per share, a yield of 0.8%.

BCV Asset Management Inc. raised its stake in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 33.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 677,078 shares of the financial services provider's stock after buying an additional 170,544 shares during the quarter. FirstService comprises about 2.7% of BCV Asset Management Inc.'s investment portfolio, making the stock its 12th biggest position. BCV Asset Management Inc. owned about 1.62% of FirstService worth $87,268,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Fifth Third Bancorp boosted its stake in shares of FirstService by 23.7% during the 1st quarter. Fifth Third Bancorp now owns 627 shares of the financial services provider's stock worth $87,000 after purchasing an additional 120 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of FirstService during the second quarter valued at approximately $220,000. State of Wyoming purchased a new position in shares of FirstService during the first quarter valued at approximately $247,000. Vise Technologies Inc. acquired a new stake in FirstService during the third quarter worth approximately $290,000. Finally, Hilltop National Bank grew its stake in FirstService by 4.1% in the 2nd quarter. Hilltop National Bank now owns 2,055 shares of the financial services provider's stock worth $292,000 after acquiring an additional 81 shares during the period. Institutional investors and hedge funds own 69.35% of the company's stock.

FirstService Stock Performance

FirstService stock opened at $154.42 on Friday. The stock's 50-day moving average is $138.14 and its 200-day moving average is $142.06. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 47.08, a price-to-earnings-growth ratio of 2.90 and a beta of 0.89. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.56 and a quick ratio of 1.56. FirstService Corporation has a 12 month low of $119.41 and a 12 month high of $166.73.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its earnings results on Thursday, October 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.05. FirstService had a net margin of 2.59% and a return on equity of 19.66%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company earned $1.76 EPS. The company's revenue was up 5.8% on a year-over-year basis. Equities analysts anticipate that FirstService Corporation will post 5.63 earnings per share for the current year.

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 30th were paid a $0.3050 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, September 30th. FirstService's dividend payout ratio (DPR) is currently 37.20%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FSV. Deutsche Bank reissued a "hold" rating and set a $144.00 price target on shares of FirstService in a research note on Friday, July 24th. Scotia lifted their price objective on FirstService from $170.00 to $175.00 and gave the company a "sector perform" rating in a research report on Friday, October 23rd. Weiss Ratings lowered FirstService from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, November 4th. Scotiabank reissued an "outperform" rating on shares of FirstService in a research note on Friday, October 23rd. Finally, Wall Street Zen raised FirstService from a "hold" rating to a "buy" rating in a research note on Saturday, November 7th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $179.82.

FirstService Profile

FirstService Corporation is a North American property services company operating through two primary businesses: FirstService Residential and FirstService Brands. The company serves residential communities and property owners in the United States and Canada. FirstService Residential provides property management services to condominium and homeowner associations, as well as other residential communities. Its services include day-to-day community operations, maintenance coordination, financial administration and support for boards and residents.

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