Blair William & Co. IL Acquires 2,187 Shares of FirstService Corporation (NASDAQ:FSV)

Key Points

• Blair William & Co. IL increased its stake in FirstService Corporation by 2.4% during the first quarter, acquiring an additional 2,187 shares, bringing its total holdings to 92,651 shares valued at approximately $15.4 million.
• Analysts are optimistic about FirstService, with Wall Street Zen upgrading the stock from a "hold" to a "buy" rating and TD Securities raising its price target from $200 to $211.
• FirstService Corporation reported a strong quarterly performance with an earnings per share of $1.71, exceeding estimates by $0.26, and revenues of $1.42 billion, up 9.1% year-over-year.

Blair William & Co. IL boosted its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,651 shares of the financial services provider's stock after purchasing an additional 2,187 shares during the period. Blair William & Co. IL owned about 0.20% of FirstService worth $15,375,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. TCTC Holdings LLC lifted its position in shares of FirstService by 155.2% during the 1st quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock valued at $28,000 after buying an additional 104 shares during the last quarter. Natixis lifted its position in shares of FirstService by 5,511.1% during the 4th 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. Spire Wealth Management lifted its position in shares of FirstService by 52.1% during the 1st 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. State of Wyoming purchased a new position in shares of FirstService during the 4th quarter valued at $101,000. Finally, Fifth Third Bancorp lifted its position in shares of FirstService by 23.0% during the 1st 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. Hedge funds and other institutional investors own 69.35% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on FSV shares. Wall Street Zen raised FirstService from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. TD Securities upped their price target on FirstService from $200.00 to $211.00 and gave the company a "hold" rating in a research report on Friday, July 25th. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $220.00 price target (up previously from $210.00) on shares of FirstService in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, FirstService currently has an average rating of "Moderate Buy" and an average target price of $217.75.

FirstService Price Performance

FSV traded up $0.48 during trading on Tuesday, reaching $197.28. 116,594 shares of the company were exchanged, compared to its average volume of 170,419. The company's 50-day moving average is $180.33 and its two-hundred day moving average is $175.60. The company has a market cap of $8.97 billion, a price-to-earnings ratio of 63.23 and a beta of 0.95. The company has a quick ratio of 1.94, a current ratio of 1.76 and a debt-to-equity ratio of 0.99. FirstService Corporation has a 12-month low of $153.13 and a 12-month high of $201.10.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.26. The business had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.40 billion. FirstService had a return on equity of 18.24% and a net margin of 2.61%. The firm's quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 EPS. Research analysts forecast that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 30th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.10 dividend on an annualized basis and a yield of 0.6%. FirstService's dividend payout ratio is 35.26%.

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.