Nykredit A S Invests $1.58 Million in FirstService Corporation $FSV

Key Points

• Nykredit A S acquired a new $1.58 million stake in FirstService during the second quarter, purchasing 11,154 shares. Institutional investors collectively own 69.35% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $184.20.
• FirstService exceeded quarterly earnings expectations with $1.75 EPS and $1.44 billion in revenue, while revenue grew 2.4% year over year. The company also declared a quarterly dividend of $0.305 per share, representing a 0.9% yield.

Nykredit A S bought a new stake in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 11,154 shares of the financial services provider's stock, valued at approximately $1,585,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FSV. Rockefeller Capital Management L.P. grew its position in shares of FirstService by 73.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 302 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 128 shares during the period. Fifth Third Bancorp increased its position in shares of FirstService by 23.7% in the first quarter. Fifth Third Bancorp now owns 627 shares of the financial services provider's stock valued at $87,000 after buying an additional 120 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of FirstService by 796.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the financial services provider's stock valued at $128,000 after buying an additional 733 shares in the last quarter. Hardy Reed LLC acquired a new position in shares of FirstService during the 1st quarter worth approximately $216,000. Finally, State of Wyoming purchased a new position in shares of FirstService during the 1st quarter valued at approximately $247,000. Institutional investors and hedge funds own 69.35% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FSV shares. Weiss Ratings reissued a "hold (c-)" rating on shares of FirstService in a research note on Wednesday, August 26th. TD increased their price objective on shares of FirstService from $204.00 to $207.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $144.00 target price on shares of FirstService in a research note on Friday, July 24th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and issued a $175.00 price target on shares of FirstService in a research note on Friday, July 24th. Finally, Wall Street Zen cut FirstService from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, FirstService currently has an average rating of "Moderate Buy" and a consensus target price of $184.20.

FirstService Price Performance

NASDAQ:FSV opened at $133.34 on Wednesday. FirstService Corporation has a one year low of $119.41 and a one year high of $198.16. The stock has a market cap of $5.82 billion, a PE ratio of 37.77, a P/E/G ratio of 2.94 and a beta of 0.93. The stock has a 50 day moving average price of $140.79 and a 200 day moving average price of $140.24. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.63 and a current ratio of 1.63.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.71 by $0.04. FirstService had a return on equity of 18.07% and a net margin of 2.88%.The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the firm earned $1.71 EPS. The company's quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts expect that FirstService Corporation will post 5.61 EPS for the current fiscal year.

FirstService Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 30th will be issued a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 29th. FirstService's payout ratio is presently 34.56%.

FirstService Profile

FirstService Corporation is a property services company serving residential and commercial property owners, residents, and businesses primarily in the United States and Canada. The company operates through two main divisions: FirstService Residential and FirstService Brands.

FirstService Residential provides property management services for condominium, cooperative, homeowners, and other residential communities. Its services include community association management, property maintenance, financial administration, compliance support, and resident services.

FirstService Brands operates a network of service businesses that support property repair, maintenance, improvement, and restoration.

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