BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 6,990 Shares of FirstService Co. (NASDAQ:FSV)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 8.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 94,842 shares of the financial services provider's stock after acquiring an additional 6,990 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.21% of FirstService worth $17,158,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in FirstService by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 1,794,676 shares of the financial services provider's stock worth $325,100,000 after acquiring an additional 23,103 shares during the period. FIL Ltd increased its position in FirstService by 12.0% in the 4th quarter. FIL Ltd now owns 1,057,284 shares of the financial services provider's stock worth $191,524,000 after purchasing an additional 113,592 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of FirstService by 53.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 656,097 shares of the financial services provider's stock worth $118,767,000 after purchasing an additional 229,889 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of FirstService by 18.5% during the 4th quarter. Franklin Resources Inc. now owns 556,050 shares of the financial services provider's stock valued at $100,632,000 after buying an additional 86,909 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of FirstService in the 4th quarter valued at approximately $98,615,000. 69.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FSV. Scotiabank reduced their target price on shares of FirstService from $217.50 to $210.00 and set a "sector perform" rating for the company in a research note on Thursday, April 17th. Raymond James boosted their target price on FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Wall Street Zen lowered shares of FirstService from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, TD Securities boosted their target price on shares of FirstService from $198.00 to $200.00 and gave the stock a "hold" rating in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, FirstService has an average rating of "Moderate Buy" and a consensus price target of $206.33.

FirstService Stock Performance

FSV stock traded up $3.72 on Tuesday, reaching $176.78. 20,665 shares of the company were exchanged, compared to its average volume of 109,611. The firm has a market capitalization of $8.03 billion, a PE ratio of 59.49 and a beta of 1.04. FirstService Co. has a 12 month low of $141.26 and a 12 month high of $197.84. The stock's fifty day moving average price is $170.91 and its 200 day moving average price is $177.53. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.79.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its earnings results on Thursday, April 24th. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.08. The business had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.28 billion. FirstService had a net margin of 2.58% and a return on equity of 17.15%. The firm's revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned $0.67 earnings per share. On average, research analysts anticipate that FirstService Co. will post 5.27 EPS for the current fiscal year.

FirstService Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 30th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Monday, June 30th. FirstService's dividend payout ratio is 38.06%.

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.