FirstService Corporation $FSV Holdings Lifted by Focus Partners Wealth

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 raised its holdings in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 12.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 176,141 shares of the financial services provider's stock after buying an additional 19,895 shares during the period. Focus Partners Wealth owned about 0.39% of FirstService worth $29,231,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in FSV. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of FirstService by 40.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,389 shares of the financial services provider's stock valued at $9,856,000 after acquiring an additional 17,072 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of FirstService by 79.5% during the first quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider's stock valued at $52,880,000 after acquiring an additional 141,152 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of FirstService by 87,310.0% during the first quarter. Jones Financial Companies Lllp now owns 17,482 shares of the financial services provider's stock valued at $2,901,000 after acquiring an additional 17,462 shares during the period. Amundi raised its holdings in shares of FirstService by 7.4% during the first quarter. Amundi now owns 72,134 shares of the financial services provider's stock valued at $12,047,000 after acquiring an additional 4,972 shares during the period. Finally, Federation des caisses Desjardins du Quebec raised its holdings in shares of FirstService by 9.1% during the first quarter. Federation des caisses Desjardins du Quebec now owns 22,117 shares of the financial services provider's stock valued at $3,660,000 after acquiring an additional 1,846 shares during the period. 69.35% of the stock is currently owned by institutional investors.

FirstService Stock Performance

Shares of FSV opened at $208.43 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market capitalization of $9.49 billion, a PE ratio of 66.80 and a beta of 0.96. FirstService Corporation has a 52 week low of $153.13 and a 52 week high of $209.66. The company's 50 day moving average price is $193.38 and its 200 day moving average price is $179.66.

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

FirstService Announces Dividend

The firm also recently announced 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. This represents a $1.10 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 30th. FirstService's payout ratio is currently 35.26%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FSV. 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 report on Thursday, September 4th. Finally, Scotiabank boosted 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 analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, FirstService presently has an average rating of "Moderate Buy" and an average price target of $217.75.

FirstService 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.

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