Dearborn Partners LLC Raises Position in FirstService Corporation (NASDAQ:FSV)

Key Points

• Dearborn Partners LLC increased its holdings in FirstService Corporation by 142.0%, acquiring an additional 2,169 shares during the first quarter, bringing its total holdings to 3,697 shares valued at approximately $614,000.
• FirstService Corporation reported earnings of $1.71 per share, exceeding analyst expectations, and achieved a revenue of $1.42 billion in its latest quarter, reflecting a 9.1% increase year-over-year.
• The company announced a quarterly dividend of $0.275 per share, which equates to an annual yield of 0.56% and a dividend payout ratio of 35.26%.

Dearborn Partners LLC raised its stake in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 142.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,697 shares of the financial services provider's stock after acquiring an additional 2,169 shares during the period. Dearborn Partners LLC's holdings in FirstService were worth $614,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TCTC Holdings LLC grew its position in FirstService by 155.2% during the 1st quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock worth $28,000 after acquiring an additional 104 shares during the last quarter. Spire Wealth Management grew its position in FirstService by 52.1% during the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock worth $90,000 after acquiring an additional 186 shares during the last quarter. Natixis grew its position in FirstService by 5,511.1% during the 4th quarter. Natixis now owns 505 shares of the financial services provider's stock worth $91,000 after acquiring an additional 496 shares during the last quarter. State of Wyoming bought a new stake in FirstService during the 4th quarter worth $101,000. Finally, Fifth Third Bancorp lifted its holdings in FirstService by 23.0% during the 1st quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock worth $128,000 after buying an additional 144 shares during the period. Institutional investors own 69.35% of the company's stock.

FirstService Trading Down 0.7%

FSV stock traded down $1.42 during mid-day trading on Friday, reaching $195.80. The company's stock had a trading volume of 120,214 shares, compared to its average volume of 167,027. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 62.76 and a beta of 0.95. The business's 50 day moving average price is $179.43 and its 200 day moving average price is $175.39. The company has a current ratio of 1.70, a quick ratio of 1.94 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 earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.26. FirstService had a return on equity of 18.24% and a net margin of 2.61%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the company posted $1.36 earnings per share. The firm's revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts predict that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 30th were paid 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 Monday, June 30th. FirstService's dividend payout ratio is 35.26%.

Wall Street Analysts Forecast Growth

FSV has been the topic of several recent research reports. Scotiabank lifted their target price on FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a report on Wednesday. TD Securities lifted their target price on FirstService from $200.00 to $211.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Finally, Wall Street Zen raised FirstService from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, FirstService 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.