J. Safra Sarasin Holding AG Increases Position in FirstService Corporation $FSV

J. Safra Sarasin Holding AG increased its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 78.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,834 shares of the financial services provider's stock after acquiring an additional 3,008 shares during the period. J. Safra Sarasin Holding AG's holdings in FirstService were worth $1,190,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. TCTC Holdings LLC increased its position in shares of FirstService by 155.2% during the first quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 104 shares during the last quarter. Strs Ohio purchased a new stake in shares of FirstService during the first quarter valued at approximately $38,000. Spire Wealth Management increased its position in shares of FirstService by 52.1% during the first quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock valued at $90,000 after acquiring an additional 186 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of FirstService during the first quarter valued at approximately $90,000. Finally, State of Wyoming increased its position in shares of FirstService by 11.1% during the first quarter. State of Wyoming now owns 621 shares of the financial services provider's stock valued at $103,000 after acquiring an additional 62 shares during the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FSV has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of FirstService in a research report on Saturday, September 27th. Zacks Research cut shares of FirstService from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 23rd. Scotiabank lifted their price target on shares of FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. TD Securities reaffirmed a "hold" rating on shares of FirstService in a report on Thursday, September 4th. Finally, Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, FirstService presently has an average rating of "Moderate Buy" and a consensus target price of $217.75.

FirstService Stock Up 0.5%

FirstService stock opened at $188.72 on Friday. FirstService Corporation has a 1-year low of $153.13 and a 1-year high of $209.66. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 60.49 and a beta of 0.99. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.99. The firm has a 50 day simple moving average of $198.22 and a 200 day simple moving average of $182.44.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business earned $1.36 EPS. FirstService's revenue was up 9.1% compared to the same quarter last year. On average, analysts predict that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 30th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, September 30th. FirstService's payout ratio is currently 35.26%.

FirstService Company 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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