Blair William & Co. IL Grows Stock Position in FirstService Corporation $FSV

Key Points

• Blair William & Co. IL increased its stake in FirstService Corporation by 56.9%, holding approximately 0.32% of the company, valued at $25.39 million.
• FirstService's quarterly earnings surpassed estimates with an EPS of $1.71, reflecting a 9.1% year-over-year increase in revenue.
• The company declared a quarterly dividend of $0.275 per share, representing an annual yield of 0.6% and a payout ratio of 35.26%.

Blair William & Co. IL raised its holdings in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 56.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,399 shares of the financial services provider's stock after acquiring an additional 52,748 shares during the quarter. Blair William & Co. IL owned approximately 0.32% of FirstService worth $25,390,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Avanza Fonder AB grew its position in shares of FirstService by 100.0% in the first quarter. Avanza Fonder AB now owns 5,000 shares of the financial services provider's stock valued at $830,000 after purchasing an additional 2,500 shares during the last quarter. Fifth Third Bancorp lifted its stake in FirstService by 23.0% in 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 in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in FirstService by 11.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,452 shares of the financial services provider's stock valued at $407,000 after buying an additional 248 shares during the last quarter. Vista Finance LLC increased its position in FirstService by 7.0% during the first quarter. Vista Finance LLC now owns 2,000 shares of the financial services provider's stock worth $332,000 after buying an additional 131 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new position in FirstService during the first quarter worth $360,000. Institutional investors and hedge funds own 69.35% of the company's stock.

FirstService Price Performance

Shares of FirstService stock opened at $184.15 on Friday. FirstService Corporation has a twelve month low of $153.13 and a twelve month high of $209.66. The stock has a market capitalization of $8.40 billion, a P/E ratio of 59.02 and a beta of 0.99. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.99. The business's fifty day moving average price is $197.33 and its 200 day moving average price is $182.76.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.71 EPS 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 firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the firm posted $1.36 earnings per share. FirstService's revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, research analysts anticipate 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 was paid on Tuesday, October 7th. Investors of record on Tuesday, September 30th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, September 30th. FirstService's dividend payout ratio is 35.26%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wall Street Zen upgraded FirstService from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. Weiss Ratings restated a "buy (b-)" rating on shares of FirstService in a report on Wednesday. Zacks Research downgraded shares of FirstService from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 23rd. TD Securities reissued a "hold" rating on shares of FirstService in a research report on Thursday, September 4th. Finally, Scotiabank raised their target price on shares of FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $217.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.