Focus Partners Wealth Boosts Stock Holdings in FirstService Corporation $FSV

Key Points

• Focus Partners Wealth increased its holdings in FirstService Corporation by 12.7%, owning 176,141 shares valued at approximately $29.23 million.
• FirstService recently reported earnings per share (EPS) of $1.71, exceeding analysts' estimates of $1.45, with revenue up 9.1% compared to the previous year.
• The company announced a quarterly dividend of $0.275 per share, with a payment date set for October 7th, reflecting an annual yield of 0.5%.

Focus Partners Wealth grew its position in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 12.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 176,141 shares of the financial services provider's stock after buying an additional 19,895 shares during the quarter. Focus Partners Wealth owned 0.39% of FirstService worth $29,231,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in FSV. Northern Trust Corp grew its holdings in shares of FirstService by 41.7% during the fourth quarter. Northern Trust Corp now owns 64,496 shares of the financial services provider's stock valued at $11,675,000 after buying an additional 18,977 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of FirstService by 13.7% during the fourth quarter. Ameriprise Financial Inc. now owns 88,055 shares of the financial services provider's stock valued at $16,046,000 after buying an additional 10,617 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of FirstService by 190.1% during the fourth quarter. BNP Paribas Financial Markets now owns 20,942 shares of the financial services provider's stock valued at $3,791,000 after buying an additional 13,724 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of FirstService by 112.8% during the fourth quarter. Bank of America Corp DE now owns 216,270 shares of the financial services provider's stock valued at $39,149,000 after buying an additional 114,620 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of FirstService during the fourth quarter valued at approximately $788,000. Hedge funds and other institutional investors own 69.35% of the company's stock.

Analyst Upgrades and Downgrades

FSV has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of FirstService from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. TD Securities restated a "hold" rating on shares of FirstService in a research report on Thursday, September 4th. Finally, Scotiabank increased their price objective on shares of FirstService from $210.00 to $220.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, FirstService presently has an average rating of "Moderate Buy" and a consensus target price of $217.75.

FirstService Stock Performance

FirstService stock traded up $2.21 during midday trading on Wednesday, reaching $204.88. 21,605 shares of the company traded hands, compared to its average volume of 133,057. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.76 and a quick ratio of 1.76. FirstService Corporation has a 12 month low of $153.13 and a 12 month high of $209.66. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of 65.67 and a beta of 0.96. The business has a 50 day moving average of $194.98 and a two-hundred day moving average of $180.25.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.26. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm earned $1.36 earnings per share. The company's quarterly revenue was up 9.1% on a year-over-year basis. As a group, research analysts predict that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th will be given a $0.275 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.10 annualized dividend and a yield of 0.5%. FirstService's dividend payout ratio (DPR) is presently 35.26%.

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.