Brown Advisory Inc. Takes Position in FirstService Corporation (NASDAQ:FSV)

Brown Advisory Inc. purchased a new stake in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Spire Wealth Management boosted its holdings in FirstService by 52.1% during the first quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock worth $90,000 after buying an additional 186 shares in the last quarter. Natixis lifted its holdings 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 purchasing an additional 496 shares in the last quarter. State of Wyoming purchased a new position in FirstService during the fourth quarter valued at $101,000. Fifth Third Bancorp lifted its holdings 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 purchasing an additional 144 shares in the last quarter. Finally, Gitterman Wealth Management LLC purchased a new position in FirstService during the fourth quarter valued at $201,000. Institutional investors and hedge funds own 69.35% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on FSV. TD Securities increased their price objective on shares of FirstService from $198.00 to $200.00 and gave the company a "hold" rating in a report on Wednesday, May 7th. Scotiabank decreased their price objective on shares of FirstService from $217.50 to $210.00 and set a "sector perform" rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen downgraded shares of FirstService from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Three analysts have rated the stock with a hold rating and three have issued 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 $208.40.

FirstService Trading Down 0.7%

FirstService stock traded down $1.20 during midday trading on Friday, hitting $177.52. 40,131 shares of the stock were exchanged, compared to its average volume of 111,948. FirstService Corporation has a fifty-two week low of $153.13 and a fifty-two week high of $197.84. The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of 61.27 and a beta of 0.99. The stock's 50-day simple moving average is $175.66 and its 200 day simple moving average is $174.73. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 1.09.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.08. FirstService had a net margin of 2.46% and a return on equity of 17.49%. The firm 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 earned $0.67 earnings per share. FirstService's revenue was up 8.0% compared to the same quarter last year. On average, equities analysts anticipate that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Announces Dividend

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

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.