Fiera Capital Corp Has $44.64 Million Stock Position in FirstService Corporation (NASDAQ:FSV)

Key Points

• Fiera Capital Corp increased its holdings in FirstService Corporation by 3.9% in the first quarter, owning a total of 268,935 shares valued at approximately $44.6 million.
• The company reported a quarterly earnings per share of $1.71, surpassing estimates and reflecting a 9.1% year-over-year revenue growth to $1.42 billion.
• FirstService Corporation announced a quarterly dividend of $0.275 per share, yielding 0.56% on an annual basis, with a payout ratio of 35.26%.

Fiera Capital Corp increased its stake in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 3.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 268,935 shares of the financial services provider's stock after purchasing an additional 10,087 shares during the period. Fiera Capital Corp owned approximately 0.59% of FirstService worth $44,639,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Spire Wealth Management grew its position in FirstService by 52.1% in the first quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock valued at $90,000 after acquiring an additional 186 shares during the last quarter. Natixis grew its position in FirstService by 5,511.1% in the fourth quarter. Natixis now owns 505 shares of the financial services provider's stock valued at $91,000 after acquiring an additional 496 shares during the last quarter. State of Wyoming bought a new position in FirstService in the fourth quarter valued at about $101,000. Fifth Third Bancorp grew its position in FirstService by 23.0% in the first quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock valued at $128,000 after acquiring an additional 144 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new position in FirstService in the fourth quarter valued at about $201,000. Institutional investors own 69.35% of the company's stock.

FirstService Trading Down 1.0%

Shares of FSV stock traded down $1.99 during mid-day trading on Friday, reaching $195.23. 63,349 shares of the stock traded hands, compared to its average volume of 142,030. The stock's fifty day simple moving average is $178.97 and its two-hundred day simple moving average is $175.29. FirstService Corporation has a 1-year low of $153.13 and a 1-year high of $201.10. The company has a market cap of $8.88 billion, a price-to-earnings ratio of 62.50 and a beta of 0.99. The company has a quick ratio of 1.94, a current ratio of 1.70 and a debt-to-equity ratio of 0.99.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 18.24% and a net margin of 2.61%. The firm's quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 earnings per share. On average, research analysts anticipate that FirstService Corporation will post 5.27 EPS for the current fiscal year.

FirstService Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 30th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, June 30th. FirstService's payout ratio is currently 35.26%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. TD Securities lifted their target price on FirstService from $200.00 to $211.00 and gave the company a "hold" rating in a research report on Friday, July 25th. Wall Street Zen upgraded FirstService from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Scotiabank lifted their price target on FirstService from $210.00 to $220.00 and gave the company a "sector perform" rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $217.75.

FirstService Company Profile

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.