FirstService Corporation (NASDAQ:FSV) Shares Acquired by Scotia Capital Inc.

Key Points

• Scotia Capital Inc. has increased its stake in FirstService Corporation by 7.2%, now owning approximately 0.07% of the company valued at $4,910,000.
• Wall Street analysts have raised their price targets for FirstService, with TD Securities setting a new target of $211.00 and Scotiabank increasing theirs to $220.00.
• FirstService reported earnings of $1.71 per share for the most recent quarter, exceeding expectations and reflecting a 9.1% revenue increase year-over-year.

Scotia Capital Inc. boosted its stake in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 7.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,703 shares of the financial services provider's stock after purchasing an additional 1,993 shares during the quarter. Scotia Capital Inc. owned approximately 0.07% of FirstService worth $4,910,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. FIL Ltd lifted its stake in FirstService by 12.0% in the fourth quarter. FIL Ltd now owns 1,057,284 shares of the financial services provider's stock valued at $191,524,000 after buying an additional 113,592 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of FirstService by 53.9% in 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 acquiring an additional 229,889 shares during the period. Copeland Capital Management LLC lifted its position in FirstService by 7.2% in the 1st quarter. Copeland Capital Management LLC now owns 382,852 shares of the financial services provider's stock valued at $63,534,000 after purchasing an additional 25,829 shares during the last quarter. TD Asset Management Inc boosted its position in shares of FirstService by 61.6% during the first quarter. TD Asset Management Inc now owns 335,542 shares of the financial services provider's stock worth $55,637,000 after buying an additional 127,846 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of FirstService by 23.5% in the fourth quarter. Geode Capital Management LLC now owns 297,037 shares of the financial services provider's stock worth $55,526,000 after purchasing an additional 56,434 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FSV. TD Securities lifted their price objective on shares of FirstService from $200.00 to $211.00 and gave the company a "hold" rating in a research note on Friday, July 25th. Scotiabank reaffirmed a "sector perform" rating and issued a $220.00 price target (up from $210.00) on shares of FirstService in a research note on Wednesday, July 30th. Finally, Wall Street Zen raised FirstService from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $217.75.

FirstService Price Performance

NASDAQ FSV opened at $196.80 on Tuesday. The stock has a market capitalization of $8.95 billion, a P/E ratio of 63.08 and a beta of 0.95. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.94 and a current ratio of 1.70. The business's fifty day moving average is $179.90 and its two-hundred day moving average is $175.45. FirstService Corporation has a 1 year low of $153.13 and a 1 year high of $201.10.

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

FirstService Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 30th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, June 30th. FirstService's dividend payout ratio (DPR) is presently 35.26%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.