Blueshift Asset Management LLC bought a new stake in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,360 shares of the financial services provider's stock, valued at approximately $226,000.
A number of other large investors also recently bought and sold shares of the stock. US Bancorp DE increased its stake in FirstService by 7.3% during the first quarter. US Bancorp DE now owns 1,431 shares of the financial services provider's stock worth $238,000 after purchasing an additional 97 shares during the period. Dearborn Partners LLC increased its stake in FirstService by 142.0% during the first quarter. Dearborn Partners LLC now owns 3,697 shares of the financial services provider's stock worth $614,000 after purchasing an additional 2,169 shares during the period. XTX Topco Ltd increased its stake in FirstService by 49.8% during the first quarter. XTX Topco Ltd now owns 3,664 shares of the financial services provider's stock worth $608,000 after purchasing an additional 1,218 shares during the period. TCTC Holdings LLC increased its stake in FirstService by 155.2% during the first quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock worth $28,000 after purchasing an additional 104 shares during the period. Finally, Fiera Capital Corp increased its stake in FirstService by 3.9% during the first quarter. Fiera Capital Corp now owns 268,935 shares of the financial services provider's stock worth $44,639,000 after purchasing an additional 10,087 shares during the period. Institutional investors and hedge funds own 69.35% of the company's stock.
FirstService Stock Up 0.2%
FirstService stock traded up $0.48 during mid-day trading on Tuesday, hitting $197.28. The company had a trading volume of 116,594 shares, compared to its average volume of 170,419. The stock has a market cap of $8.97 billion, a price-to-earnings ratio of 63.23 and a beta of 0.95. FirstService Corporation has a 1 year low of $153.13 and a 1 year high of $201.10. The company has a quick ratio of 1.94, a current ratio of 1.76 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average of $179.90 and a 200 day moving average of $175.45.
FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced 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. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The firm's revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. On average, sell-side analysts expect that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.
FirstService Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 30th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, June 30th. FirstService's dividend payout ratio (DPR) is 35.26%.
Analysts Set New Price Targets
A number of brokerages have issued reports on FSV. TD Securities boosted their price target on shares of FirstService from $200.00 to $211.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of FirstService from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Scotiabank restated a "sector perform" rating and set a $220.00 target price (up from $210.00) on shares of FirstService in a research note on Wednesday, July 30th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $217.75.
Check Out Our Latest Stock Analysis on FirstService
About FirstService
(
Free Report)
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.
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