ARS Wealth Advisors Group LLC Invests $2.27 Million in FirstService Corporation $FSV

Key Points

• ARS Wealth Advisors Group LLC acquired a new stake in FirstService Corporation, purchasing 13,000 shares valued at approximately $2.27 million.
• FirstService reported a quarterly earnings per share of $1.71, exceeding estimates by $0.26, and a revenue of $1.42 billion, showing a year-over-year increase of 9.1%.
• The company declared a quarterly dividend of $0.275 per share, scheduled for payment on October 7th, representing an annualized yield of 0.5%.

ARS Wealth Advisors Group LLC bought a new stake in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 13,000 shares of the financial services provider's stock, valued at approximately $2,270,000.

A number of other hedge funds have also recently modified their holdings of FSV. Vanguard Group Inc. boosted its holdings in FirstService by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,815,548 shares of the financial services provider's stock worth $301,051,000 after buying an additional 20,872 shares during the period. Orbis Allan Gray Ltd boosted its holdings in FirstService by 18.8% in the 1st quarter. Orbis Allan Gray Ltd now owns 1,417,190 shares of the financial services provider's stock worth $235,183,000 after buying an additional 224,125 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in FirstService by 2.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 671,431 shares of the financial services provider's stock worth $111,424,000 after buying an additional 15,334 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of FirstService by 27.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 533,385 shares of the financial services provider's stock valued at $88,459,000 after purchasing an additional 115,898 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its holdings in shares of FirstService by 7.2% during the 1st quarter. Copeland Capital Management LLC now owns 382,852 shares of the financial services provider's stock valued at $63,534,000 after purchasing an additional 25,829 shares during the last quarter. Institutional investors own 69.35% of the company's stock.

FirstService Price Performance

Shares of NASDAQ FSV traded down $0.01 during trading on Friday, hitting $201.59. The company had a trading volume of 161,962 shares, compared to its average volume of 81,435. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 64.61 and a beta of 0.96. FirstService Corporation has a fifty-two week low of $153.13 and a fifty-two week high of $209.66. The stock has a fifty day simple moving average of $196.42 and a two-hundred day simple moving average of $180.79. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.99.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.26. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business posted $1.36 EPS. FirstService's revenue was up 9.1% on a year-over-year basis. On average, research analysts expect that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 30th. FirstService's payout ratio is 35.26%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of FirstService from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. Scotiabank increased their price objective on shares of FirstService from $210.00 to $220.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Finally, TD Securities reiterated a "hold" rating on shares of FirstService in a research note on Thursday, September 4th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, FirstService presently has an average rating of "Moderate Buy" and a consensus price target of $217.75.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.