Montrusco Bolton Investments Inc. Acquires 90,075 Shares of FirstService Corporation $FSV

Key Points

• Montrusco Bolton Investments Inc. increased its stake in FirstService by 89.4%, purchasing 90,075 shares to hold 190,823 shares (about 0.42% of the company) valued at roughly $29.7 million at quarter-end.
• FirstService beat Q1 expectations, posting $0.95 EPS versus a $0.89 consensus and $1.30B in revenue (up 5.3% y/y), and raised its quarterly dividend to $0.305 ($1.22 annualized, ~0.8% yield).
• Analyst sentiment is mixed but generally favorable: the stock has a consensus "Moderate Buy" rating with an average target of $205.88, though some firms have trimmed targets or downgraded ratings.

Montrusco Bolton Investments Inc. grew its holdings in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 89.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,823 shares of the financial services provider's stock after purchasing an additional 90,075 shares during the quarter. Montrusco Bolton Investments Inc. owned about 0.42% of FirstService worth $29,715,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Durable Capital Partners LP boosted its position in FirstService by 12.9% during the third quarter. Durable Capital Partners LP now owns 2,216,720 shares of the financial services provider's stock worth $422,263,000 after purchasing an additional 253,155 shares during the period. Vanguard Group Inc. boosted its position in FirstService by 3.5% during the third quarter. Vanguard Group Inc. now owns 1,925,014 shares of the financial services provider's stock worth $366,773,000 after purchasing an additional 65,926 shares during the period. Mackenzie Financial Corp boosted its position in shares of FirstService by 5.1% in the third quarter. Mackenzie Financial Corp now owns 1,551,175 shares of the financial services provider's stock valued at $295,481,000 after acquiring an additional 75,712 shares during the period. Orbis Allan Gray Ltd boosted its position in shares of FirstService by 0.5% in the second quarter. Orbis Allan Gray Ltd now owns 1,423,870 shares of the financial services provider's stock valued at $248,636,000 after acquiring an additional 6,680 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of FirstService by 2.3% in the third quarter. Franklin Resources Inc. now owns 600,155 shares of the financial services provider's stock valued at $114,323,000 after acquiring an additional 13,264 shares during the period. Institutional investors own 69.35% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FSV shares. Scotiabank cut their price objective on shares of FirstService from $205.00 to $190.00 and set a "sector outperform" rating for the company in a research report on Friday. Weiss Ratings restated a "hold (c)" rating on shares of FirstService in a research report on Friday, March 27th. TD Securities set a $204.00 price objective on shares of FirstService in a research report on Friday. TD Cowen cut their price objective on shares of FirstService from $217.00 to $201.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Finally, Wall Street Zen lowered shares of FirstService from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $205.88.

More FirstService News

Here are the key news stories impacting FirstService this week:

• Positive Sentiment: Q1 results beat expectations — FirstService reported $0.95 EPS (vs. consensus ~ $0.89–$0.90) and $1.30B in revenue, up ~5.3% year‑over‑year. The underlying beat supports the firm’s growth profile and helps justify upside to current levels. FirstService Q1 Results (MarketBeat)
• Positive Sentiment: TD raised its price target to $204 and kept a “buy” rating, implying roughly a 39% upside from the cited current price — a vote of confidence from a major bank that can support the stock on optimism about longer‑term earnings. TD Raises Price Target to $204 (BayStreet.CA)
• Neutral Sentiment: Earnings‑call color: management balanced growth commentary with mention of headwinds, which gives investors more nuance but no clear directional change to guidance — investors will watch for how persistent those headwinds are. Earnings Call Highlights (TipRanks)
• Neutral Sentiment: Full earnings transcript is available for detail — useful for investors who want management’s exact comments on margins, cost dynamics and backlog. Q1 2026 Earnings Transcript (The Motley Fool)
• Negative Sentiment: Scotiabank cut its price target from $205 to $190 (still a “sector outperform”), trimming some analyst enthusiasm and reducing the implied upside — a target cut can pressure sentiment even when the rating remains positive. Scotiabank Lowers Target to $190 (BayStreet.CA)

FirstService Trading Down 1.9%

Shares of FSV opened at $146.38 on Friday. The firm's 50 day simple moving average is $146.56 and its 200 day simple moving average is $155.29. The company has a market capitalization of $6.73 billion, a P/E ratio of 41.35, a P/E/G ratio of 4.00 and a beta of 1.09. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.73 and a quick ratio of 1.73. FirstService Corporation has a 1-year low of $133.42 and a 1-year high of $209.66.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.89 by $0.06. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. FirstService had a net margin of 2.92% and a return on equity of 18.27%. The business's revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. Sell-side analysts forecast that FirstService Corporation will post 5.73 earnings per share for the current fiscal year.

FirstService Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 7th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. This is a boost from FirstService's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Tuesday, March 31st. FirstService's payout ratio is 38.61%.

FirstService Profile

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.

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