J. Safra Sarasin Holding AG Has $634,000 Position in FirstService Corporation (NASDAQ:FSV)

Key Points

• J. Safra Sarasin Holding AG reduced its stake in FirstService Corporation by 31%, resulting in a holding worth $634,000 after selling 1,715 shares in the first quarter.
• FirstService Corporation reported an EPS of $1.71 for the latest quarter, exceeding expectations, with revenue of $1.42 billion, a year-over-year increase of 9.1%.
• The company announced a quarterly dividend of $0.275 per share, reflecting a dividend yield of 0.6% and a payout ratio of 35.26%.

J. Safra Sarasin Holding AG lessened its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 31.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,826 shares of the financial services provider's stock after selling 1,715 shares during the period. J. Safra Sarasin Holding AG's holdings in FirstService were worth $634,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH increased its holdings in shares of FirstService by 1.3% during the first quarter. Allianz Asset Management GmbH now owns 5,784 shares of the financial services provider's stock worth $959,000 after buying an additional 76 shares in the last quarter. Diversify Wealth Management LLC grew its stake in shares of FirstService by 4.4% during the first quarter. Diversify Wealth Management LLC now owns 2,127 shares of the financial services provider's stock valued at $366,000 after purchasing an additional 89 shares during the last quarter. US Bancorp DE grew its stake in shares of FirstService by 7.3% during the first quarter. US Bancorp DE now owns 1,431 shares of the financial services provider's stock valued at $238,000 after purchasing an additional 97 shares during the last quarter. Stifel Financial Corp grew its stake in shares of FirstService by 0.5% during the fourth quarter. Stifel Financial Corp now owns 21,205 shares of the financial services provider's stock valued at $3,838,000 after purchasing an additional 102 shares during the last quarter. Finally, TCTC Holdings LLC grew its stake 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 purchasing an additional 104 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company's stock.

FirstService Trading Up 0.2%

FSV stock traded up $0.48 during midday trading on Tuesday, reaching $197.28. The company's stock had a trading volume of 116,594 shares, compared to its average volume of 170,419. FirstService Corporation has a 52 week low of $153.13 and a 52 week high of $201.10. The stock has a market cap of $8.97 billion, a PE ratio of 63.23 and a beta of 0.95. The company has a quick ratio of 1.94, a current ratio of 1.76 and a debt-to-equity ratio of 0.99. The business's 50-day simple moving average is $180.33 and its 200-day simple moving average is $175.60.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its quarterly earnings data 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 business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. FirstService had a return on equity of 18.24% and a net margin of 2.61%. The firm's revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 EPS. As a group, sell-side analysts expect that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 30th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis 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%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FSV shares. Scotiabank reissued a "sector perform" rating and set a $220.00 price target (up from $210.00) on shares of FirstService in a research note on Wednesday, July 30th. TD Securities increased their price target 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. Finally, Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.