Jones Financial Companies Lllp Boosts Position in FirstService Corporation $FSV

Key Points

• Jones Financial Companies Lllp significantly increased its position in FirstService Corporation by 87,310.0%, owning 17,482 shares valued at approximately $2.9 million.
• FirstService reported earnings of $1.71 per share for the last quarter, exceeding analysts' predictions, with revenues up 9.1% year-over-year at $1.42 billion.
• The company declared a quarterly dividend of $0.275, yielding 0.5%, with an ex-dividend date set for September 30th.

Jones Financial Companies Lllp boosted its stake in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 87,310.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,482 shares of the financial services provider's stock after buying an additional 17,462 shares during the quarter. Jones Financial Companies Lllp's holdings in FirstService were worth $2,901,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Fiera Capital Corp increased its position in shares of FirstService by 3.9% during the first quarter. Fiera Capital Corp now owns 268,935 shares of the financial services provider's stock worth $44,639,000 after acquiring an additional 10,087 shares during the period. TD Asset Management Inc grew its stake in FirstService by 61.6% in the first quarter. TD Asset Management Inc now owns 335,542 shares of the financial services provider's stock worth $55,637,000 after purchasing an additional 127,846 shares in the last quarter. Summit Creek Advisors LLC increased its holdings in FirstService by 8.4% during the 1st quarter. Summit Creek Advisors LLC now owns 115,245 shares of the financial services provider's stock worth $19,125,000 after purchasing an additional 8,961 shares during the period. Baskin Financial Services Inc. raised its position in FirstService by 0.6% during the 1st quarter. Baskin Financial Services Inc. now owns 251,850 shares of the financial services provider's stock valued at $41,757,000 after purchasing an additional 1,588 shares in the last quarter. Finally, Spire Wealth Management lifted its holdings in shares of FirstService by 52.1% in the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock worth $90,000 after buying an additional 186 shares during the period. 69.35% of the stock is currently owned by institutional investors.

FirstService Price Performance

Shares of FSV stock opened at $204.60 on Thursday. The stock's 50-day moving average is $192.78 and its 200 day moving average is $179.42. FirstService Corporation has a 1-year low of $153.13 and a 1-year high of $206.51. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.76 and a quick ratio of 1.76. The company has a market cap of $9.32 billion, a P/E ratio of 65.58 and a beta of 0.96.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $1.40 billion. During the same period last year, the business earned $1.36 EPS. The company's revenue was up 9.1% compared to the same quarter last year. Research analysts predict that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 30th. FirstService's payout ratio is currently 35.26%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on FSV shares. TD Securities restated a "hold" rating on shares of FirstService in a research note on Thursday, September 4th. Scotiabank increased their target price 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. Finally, Wall Street Zen upgraded shares of FirstService from a "hold" rating to a "buy" rating in a report on Sunday. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $217.75.

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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