Montrusco Bolton Investments Inc. Increases Position in FirstService Corporation $FSV

Key Points

• Montrusco Bolton Investments Inc. increased its position in FirstService Corporation by 8.3% during the second quarter, now holding 101,296 shares valued at approximately $17.6 million.
• FirstService reported earnings per share of $1.71 for the last quarter, exceeding analysts' expectations of $1.45, while revenue increased by 9.1% year-over-year to $1.42 billion.
• The company recently declared a quarterly dividend of $0.275 per share, representing a 0.6% yield, with an annualized payout of $1.10.

Montrusco Bolton Investments Inc. increased its stake in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 8.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,296 shares of the financial services provider's stock after purchasing an additional 7,781 shares during the quarter. Montrusco Bolton Investments Inc. owned 0.22% of FirstService worth $17,641,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Harbor Capital Advisors Inc. increased its holdings in shares of FirstService by 0.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,547 shares of the financial services provider's stock valued at $1,667,000 after purchasing an additional 59 shares in the last quarter. State of Wyoming increased its holdings in shares of FirstService by 11.1% in the 1st quarter. State of Wyoming now owns 621 shares of the financial services provider's stock valued at $103,000 after purchasing an additional 62 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in FirstService by 1.3% during the 1st quarter. Allianz Asset Management GmbH now owns 5,784 shares of the financial services provider's stock valued at $959,000 after acquiring an additional 76 shares in the last quarter. HighTower Advisors LLC increased its holdings in FirstService by 2.8% during the 1st quarter. HighTower Advisors LLC now owns 3,058 shares of the financial services provider's stock valued at $508,000 after acquiring an additional 84 shares in the last quarter. Finally, Diversify Wealth Management LLC increased its holdings in FirstService by 4.4% during the 1st quarter. Diversify Wealth Management LLC now owns 2,127 shares of the financial services provider's stock valued at $366,000 after acquiring an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Trading Down 0.5%

Shares of FSV stock opened at $183.15 on Monday. 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 quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.99. FirstService Corporation has a fifty-two week low of $153.13 and a fifty-two week high of $209.66. The firm's 50 day moving average price is $197.07 and its two-hundred day moving average price is $183.02.

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 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 firm had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the previous year, the company posted $1.36 earnings per share. FirstService's revenue was up 9.1% compared to the same quarter last year. On average, analysts anticipate that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 30th were given 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 payout ratio is presently 35.26%.

Analyst Ratings Changes

Several equities analysts have weighed in on FSV shares. Weiss Ratings restated a "buy (b-)" rating on shares of FirstService in a report on Wednesday, October 8th. Zacks Research downgraded shares of FirstService from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 23rd. Wall Street Zen upgraded shares of FirstService from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. TD Securities restated a "hold" rating on shares of FirstService in a report on Thursday, September 4th. Finally, Scotiabank raised their target price on shares of FirstService from $210.00 to $220.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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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