Northern Trust Corp Acquires 9,013 Shares of FirstService Corporation $FSV

Key Points

• Northern Trust Corp increased its stake in FirstService Corporation by 14.0%, acquiring an additional 9,013 shares to hold a total of 73,509 shares valued at approximately $12.2 million.
• FirstService reported $1.71 earnings per share for the last quarter, exceeding expectations, along with a 9.1% quarterly revenue increase year-over-year.
• Analysts have mixed ratings, with two analysts recommending a buy and two a hold, reflecting overall confidence in FirstService's future performance.

Northern Trust Corp grew its holdings in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 14.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,509 shares of the financial services provider's stock after purchasing an additional 9,013 shares during the period. Northern Trust Corp owned approximately 0.16% of FirstService worth $12,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. TCTC Holdings LLC boosted its holdings in shares of FirstService by 155.2% in the first quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock worth $28,000 after buying an additional 104 shares during the period. Spire Wealth Management boosted its holdings in shares of FirstService by 52.1% in the first 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. State of Wyoming acquired a new position in shares of FirstService in the fourth quarter worth about $101,000. Fifth Third Bancorp boosted its holdings in shares of FirstService by 23.0% in the first quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock worth $128,000 after buying an additional 144 shares during the period. Finally, Two Sigma Advisers LP acquired a new position in shares of FirstService in the fourth quarter worth about $201,000. Institutional investors own 69.35% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FSV. Wall Street Zen upgraded shares of FirstService from a "hold" rating to a "buy" rating in a report on Sunday. Scotiabank raised 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, TD Securities reiterated a "hold" rating on shares of FirstService in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $217.75.

FirstService Stock Down 0.6%

Shares of NASDAQ FSV traded down $1.29 during mid-day trading on Wednesday, reaching $204.60. The company had a trading volume of 84,020 shares, compared to its average volume of 78,186. The stock has a fifty day moving average of $192.78 and a two-hundred day moving average of $179.42. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of 65.58 and a beta of 0.96. FirstService Corporation has a 12-month low of $153.13 and a 12-month high of $206.51.

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

FirstService Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 30th will be given a dividend of $0.275 per share. 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 dividend payout ratio (DPR) is presently 35.26%.

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.