FirstService Corporation $FSV Stock Position Raised by Jones Financial Companies Lllp

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 lifted its position in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 87,310.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,482 shares of the financial services provider's stock after acquiring an additional 17,462 shares during the period. Jones Financial Companies Lllp's holdings in FirstService were worth $2,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in FirstService by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,815,548 shares of the financial services provider's stock valued at $301,051,000 after purchasing an additional 20,872 shares during the last quarter. Orbis Allan Gray Ltd boosted its holdings in FirstService by 18.8% in the first quarter. Orbis Allan Gray Ltd now owns 1,417,190 shares of the financial services provider's stock valued at $235,183,000 after purchasing an additional 224,125 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in FirstService by 2.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 671,431 shares of the financial services provider's stock valued at $111,424,000 after purchasing an additional 15,334 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in FirstService by 27.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 533,385 shares of the financial services provider's stock valued at $88,459,000 after purchasing an additional 115,898 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its holdings in FirstService by 7.2% in the first 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. 69.35% of the stock is owned by institutional investors and hedge funds.

FirstService Price Performance

Shares of NASDAQ FSV traded down $2.26 on Tuesday, hitting $202.67. The company's stock had a trading volume of 115,667 shares, compared to its average volume of 80,525. FirstService Corporation has a 12-month low of $153.13 and a 12-month high of $209.66. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of 64.96 and a beta of 0.96. 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 stock has a 50 day moving average of $194.98 and a 200-day moving average of $180.25.

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

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, September 30th. FirstService's dividend payout ratio is 35.26%.

Wall Street Analyst Weigh In

FSV has been the topic of several recent analyst reports. Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. 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 research note on Wednesday, July 30th. Finally, TD Securities reissued a "hold" rating on shares of FirstService in a research note on Thursday, September 4th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, FirstService has an average rating of "Moderate Buy" and a consensus price target of $217.75.

About FirstService

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.