FirstService Corporation $FSV Stock Holdings Boosted by Fenimore Asset Management Inc

Key Points

• Fenimore Asset Management increased its FirstService stake by 6.9% in the third quarter, bringing its holdings to 130,824 shares valued at approximately $16.7 million. Institutional investors collectively own 69.35% of the company.
• FirstService reported quarterly EPS of $1.75, exceeding analyst estimates of $1.71, while revenue reached $1.44 billion, up 2.4% year over year. The company also maintains a quarterly dividend of $0.305 per share, yielding about 1.0% annually.
• Analyst sentiment remains positive, with eight Buy ratings and three Hold ratings, producing a consensus “Moderate Buy” rating and an average price target of $184.20 versus the reported share price of $128.22.

Fenimore Asset Management Inc lifted its holdings in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 6.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,824 shares of the financial services provider's stock after buying an additional 8,426 shares during the quarter. Fenimore Asset Management Inc owned approximately 0.30% of FirstService worth $16,730,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its position in shares of FirstService by 52.2% during the first quarter. Bessemer Group Inc. now owns 191,970 shares of the financial services provider's stock worth $26,672,000 after purchasing an additional 65,830 shares in the last quarter. Bank of America Corp DE grew its stake in FirstService by 8.2% during the 1st quarter. Bank of America Corp DE now owns 240,316 shares of the financial services provider's stock valued at $33,390,000 after acquiring an additional 18,146 shares in the last quarter. Sei Investments Co. grew its stake in FirstService by 59.2% during the 1st quarter. Sei Investments Co. now owns 63,388 shares of the financial services provider's stock valued at $8,806,000 after acquiring an additional 23,577 shares in the last quarter. Nykredit A S acquired a new stake in FirstService in the 2nd quarter valued at about $1,585,000. Finally, TD Waterhouse Canada Inc. lifted its stake in FirstService by 13.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 66,437 shares of the financial services provider's stock worth $9,519,000 after purchasing an additional 8,084 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company's stock.

FirstService Trading Up 1.1%

FSV stock traded up $1.35 during midday trading on Thursday, hitting $128.22. 81,999 shares of the company's stock were exchanged, compared to its average volume of 215,401. FirstService Corporation has a 1-year low of $119.41 and a 1-year high of $189.05. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $5.60 billion, a PE ratio of 36.32, a P/E/G ratio of 2.85 and a beta of 0.95. The business has a 50-day simple moving average of $137.60 and a two-hundred day simple moving average of $138.99.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.71 by $0.04. FirstService had a return on equity of 18.07% and a net margin of 2.88%.The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the company earned $1.71 EPS. The company's quarterly revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts predict that FirstService Corporation will post 5.61 EPS for the current fiscal year.

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Investors of record on Wednesday, September 30th were given a dividend of $0.3050 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.0%. FirstService's dividend payout ratio (DPR) is presently 34.56%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FSV. Weiss Ratings restated a "hold (c-)" rating on shares of FirstService in a research report on Wednesday, August 26th. Wall Street Zen lowered FirstService from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. BMO Capital Markets dropped their target price on FirstService from $199.00 to $192.00 and set an "outperform" rating for the company in a report on Friday, July 24th. TD lifted their price target on FirstService from $204.00 to $207.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $175.00 price target on shares of FirstService in a research report on Friday, July 24th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $184.20.

About FirstService

FirstService Corporation is a North American property services company headquartered in Toronto, Canada. The company provides services to residential and commercial properties through two primary business segments: FirstService Residential and FirstService Brands.

FirstService Residential provides property management and related services for condominium, cooperative, homeowners' association and other residential communities. Its services include community administration, financial management, maintenance coordination, customer support and project management.

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