Bessemer Group Inc. Grows Stake in FirstService Corporation (NASDAQ:FSV)

Bessemer Group Inc. lifted its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 6.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,205 shares of the financial services provider's stock after acquiring an additional 10,244 shares during the period. Bessemer Group Inc. owned 0.37% of FirstService worth $27,582,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FSV. Spire Wealth Management boosted its stake in FirstService by 52.1% during the first quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock valued at $90,000 after buying an additional 186 shares during the last quarter. Natixis boosted its stake in FirstService by 5,511.1% during the fourth quarter. Natixis now owns 505 shares of the financial services provider's stock valued at $91,000 after buying an additional 496 shares during the last quarter. State of Wyoming bought a new position in FirstService during the fourth quarter valued at approximately $101,000. Fifth Third Bancorp boosted its stake in FirstService by 23.0% during the first quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock valued at $128,000 after buying an additional 144 shares during the last quarter. Finally, Gitterman Wealth Management LLC bought a new position in FirstService during the fourth quarter valued at approximately $201,000. Institutional investors own 69.35% of the company's stock.

FirstService Trading Up 0.3%

Shares of NASDAQ:FSV traded up $0.44 during trading on Friday, hitting $172.92. The company had a trading volume of 151,424 shares, compared to its average volume of 110,070. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 59.83 and a beta of 1.01. FirstService Corporation has a one year low of $150.53 and a one year high of $197.84. The company has a fifty day simple moving average of $174.86 and a two-hundred day simple moving average of $175.07. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.94 and a quick ratio of 1.94.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.08. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.28 billion. FirstService had a return on equity of 17.49% and a net margin of 2.46%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the company earned $0.67 EPS. As a group, equities analysts forecast that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 30th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Monday, June 30th. FirstService's payout ratio is 38.06%.

Wall Street Analysts Forecast Growth

FSV has been the subject of a number of research reports. TD Securities increased their price target on FirstService from $198.00 to $200.00 and gave the company a "hold" rating in a research note on Wednesday, May 7th. Wall Street Zen lowered FirstService from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, Scotiabank dropped their price target on FirstService from $217.50 to $210.00 and set a "sector perform" rating for the company in a research note on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $208.40.

About FirstService

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.