Brown Advisory Inc. Invests $30.52 Million in FirstService Corporation (NASDAQ:FSV)

Brown Advisory Inc. purchased a new stake in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 183,930 shares of the financial services provider's stock, valued at approximately $30,523,000. Brown Advisory Inc. owned 0.40% of FirstService as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of FSV. Spire Wealth Management increased its stake in FirstService by 52.1% in the first quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock worth $90,000 after purchasing an additional 186 shares during the period. Natixis increased its stake in FirstService by 5,511.1% in the fourth quarter. Natixis now owns 505 shares of the financial services provider's stock worth $91,000 after purchasing an additional 496 shares during the period. State of Wyoming purchased a new stake in FirstService in the fourth quarter worth $101,000. Fifth Third Bancorp increased its stake in FirstService by 23.0% in the first quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock worth $128,000 after purchasing an additional 144 shares during the period. Finally, Gitterman Wealth Management LLC purchased a new stake in FirstService in the fourth quarter worth $201,000. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Stock Down 0.4%

Shares of FirstService stock traded down $0.78 during trading on Friday, reaching $177.94. The company's stock had a trading volume of 115,109 shares, compared to its average volume of 111,828. The company has a 50-day simple moving average of $175.69 and a two-hundred day simple moving average of $174.55. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.09. FirstService Corporation has a 1-year low of $153.13 and a 1-year high of $197.84. The company has a market cap of $8.09 billion, a price-to-earnings ratio of 61.57 and a beta of 0.99.

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

FirstService Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 30th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Monday, June 30th. FirstService's dividend payout ratio (DPR) is presently 38.06%.

Analysts Set New Price Targets

FSV has been the topic of several research reports. Wall Street Zen lowered FirstService from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. TD Securities raised 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. Finally, Scotiabank cut their price target on FirstService from $217.50 to $210.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.