Lincluden Management Ltd. Acquires 3,011 Shares of FirstService Corporation $FSV

Key Points

• Lincluden Management Ltd. increased its stake in FirstService Corporation by 7.4%, now owning a total of 43,470 shares valued at approximately $7,579,000.
• Research analysts have mixed ratings on FirstService, with a consensus rating of "Moderate Buy" and a price target of $217.75.
• FirstService recently reported $1.71 earnings per share, surpassing analysts' expectations, alongside a quarterly revenue of $1.42 billion.

Lincluden Management Ltd. raised its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 7.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,470 shares of the financial services provider's stock after purchasing an additional 3,011 shares during the quarter. FirstService accounts for 0.8% of Lincluden Management Ltd.'s investment portfolio, making the stock its 26th largest position. Lincluden Management Ltd. owned approximately 0.10% of FirstService worth $7,579,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. TCTC Holdings LLC grew its stake in shares of FirstService by 155.2% during the 1st quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock worth $28,000 after acquiring an additional 104 shares during the period. Strs Ohio bought a new position in shares of FirstService during the 1st quarter worth $38,000. Spire Wealth Management grew its stake in shares of FirstService by 52.1% during the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock worth $90,000 after acquiring an additional 186 shares during the period. SVB Wealth LLC bought a new position in shares of FirstService during the 1st quarter worth $90,000. Finally, State of Wyoming grew its stake in shares of FirstService by 11.1% during the 1st quarter. State of Wyoming now owns 621 shares of the financial services provider's stock worth $103,000 after acquiring an additional 62 shares during the period. Institutional investors own 69.35% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Scotiabank increased their price target on FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Zacks Research cut FirstService from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 23rd. Weiss Ratings reissued a "buy (b-)" rating on shares of FirstService in a report on Wednesday. TD Securities reissued a "hold" rating on shares of FirstService in a report on Thursday, September 4th. Finally, Wall Street Zen raised FirstService from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $217.75.

FirstService Stock Performance

Shares of NASDAQ FSV opened at $183.15 on Friday. The stock has a market cap of $8.35 billion, a price-to-earnings ratio of 58.70 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. FirstService Corporation has a 1-year low of $153.13 and a 1-year high of $209.66. The stock's 50-day moving average is $197.07 and its 200 day moving average is $182.92.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced 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. The company had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.40 billion. FirstService had a return on equity of 18.24% and a net margin of 2.61%.FirstService's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $1.36 EPS. On average, sell-side analysts anticipate that FirstService Corporation will post 5.27 EPS for the current fiscal year.

FirstService Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Tuesday, September 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 of this dividend was Tuesday, September 30th. FirstService's dividend payout ratio (DPR) is currently 35.26%.

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.

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