FirstService Corporation $FSV Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in FirstService by 1.5% to 1,954,819 shares, representing about 4.28% of the company and valued at roughly $304 million at quarter-end.
• Analysts have trimmed several price targets, but the consensus remains a Moderate Buy with an average target of $196.89 (eight Buy ratings vs. three Holds).
• FirstService beat quarterly estimates with $0.95 EPS vs. $0.89 and $1.30B in revenue (+5.3% YoY), and announced a quarterly dividend of $0.305 ($1.22 annualized, ~0.9% yield).

Vanguard Group Inc. raised its stake in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,954,819 shares of the financial services provider's stock after purchasing an additional 29,805 shares during the quarter. Vanguard Group Inc. owned about 4.28% of FirstService worth $304,000,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. JPL Wealth Management LLC acquired a new position in shares of FirstService in the 3rd quarter valued at $26,000. Geneos Wealth Management Inc. boosted its holdings in shares of FirstService by 63.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 79 shares during the last quarter. Strs Ohio acquired a new position in shares of FirstService in the 1st quarter valued at $38,000. EverSource Wealth Advisors LLC lifted its holdings in shares of FirstService by 400.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider's stock valued at $64,000 after acquiring an additional 292 shares in the last quarter. Finally, Spire Wealth Management lifted its holdings in shares of FirstService by 300.0% during the 3rd quarter. Spire Wealth Management now owns 400 shares of the financial services provider's stock valued at $76,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FSV shares. Scotiabank reduced their target price on shares of FirstService from $205.00 to $190.00 and set a "sector outperform" rating on the stock in a report on Friday, April 24th. Weiss Ratings restated a "hold (c)" rating on shares of FirstService in a report on Friday, March 27th. Stifel Nicolaus reduced their target price on shares of FirstService from $215.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, April 27th. BMO Capital Markets restated an "outperform" rating and set a $202.00 target price on shares of FirstService in a report on Thursday, February 5th. Finally, TD Cowen reduced their target price on shares of FirstService from $217.00 to $201.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, FirstService has a consensus rating of "Moderate Buy" and an average target price of $196.89.

FirstService Stock Performance

Shares of FSV stock opened at $134.46 on Friday. FirstService Corporation has a 12 month low of $124.37 and a 12 month high of $209.66. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.66 and a quick ratio of 1.73. The firm has a market capitalization of $6.18 billion, a P/E ratio of 37.98, a P/E/G ratio of 4.02 and a beta of 0.97. The company's fifty day moving average price is $143.87 and its two-hundred day moving average price is $152.48.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.06. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The firm's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 EPS. On average, research analysts anticipate that FirstService Corporation will post 5.54 earnings per share for the current fiscal year.

FirstService Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 30th will be given a $0.305 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.22 annualized dividend and a dividend yield of 0.9%. FirstService's payout ratio is presently 34.46%.

FirstService Profile

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.

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