Sei Investments Co. Acquires 23,577 Shares of FirstService Corporation $FSV

Key Points

• Sei Investments increased its FirstService stake by 59.2% in the first quarter, acquiring 23,577 shares and bringing its holdings to 63,388 shares valued at approximately $8.8 million. Institutional investors collectively own 69.35% of the company.
• FirstService reported quarterly earnings of $1.75 per share, beating analyst expectations of $1.71, while revenue reached $1.44 billion and rose 2.4% year over year.
• Analysts maintain a generally positive outlook, with eight Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $184.20 versus the stock’s reported $140.89 price.

Sei Investments Co. boosted its holdings in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 59.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,388 shares of the financial services provider's stock after acquiring an additional 23,577 shares during the period. Sei Investments Co. owned 0.14% of FirstService worth $8,806,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its holdings in FirstService by 493.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,775,353 shares of the financial services provider's stock worth $432,173,000 after purchasing an additional 2,307,684 shares during the period. Durable Capital Partners LP boosted its position in shares of FirstService by 12.9% in the 3rd 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 in the last quarter. Orbis Allan Gray Ltd boosted its position in shares of FirstService by 36.5% in the 4th quarter. Orbis Allan Gray Ltd now owns 1,984,677 shares of the financial services provider's stock worth $308,677,000 after purchasing an additional 530,489 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of FirstService by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 1,954,819 shares of the financial services provider's stock worth $304,000,000 after buying an additional 29,805 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of FirstService by 15.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,791,116 shares of the financial services provider's stock worth $278,247,000 after buying an additional 239,941 shares during the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Stock Performance

FSV stock opened at $140.89 on Friday. The stock has a market capitalization of $6.48 billion, a PE ratio of 39.91, a price-to-earnings-growth ratio of 3.12 and a beta of 0.94. FirstService Corporation has a 12-month low of $119.41 and a 12-month high of $209.66. The company has a current ratio of 1.58, a quick ratio of 1.66 and a debt-to-equity ratio of 1.03. The stock's 50 day simple moving average is $140.60 and its 200 day simple moving average is $144.92.

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

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th were issued a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. FirstService's dividend payout ratio (DPR) is presently 34.56%.

Wall Street Analysts Forecast Growth

FSV has been the subject of a number of recent research reports. TD Cowen reiterated a "buy" rating and set a $204.00 price objective on shares of FirstService in a research note on Wednesday, June 3rd. Stifel Nicolaus cut their target price on FirstService from $215.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, April 27th. Loop Capital started coverage on FirstService in a report on Monday, May 4th. They set a "hold" rating and a $140.00 price target for the company. BMO Capital Markets lowered their price target on FirstService from $199.00 to $192.00 and set an "outperform" rating for the company in a research report on Friday, July 24th. Finally, TD Securities reaffirmed a "buy" rating and issued a $195.00 price target on shares of FirstService in a research report on Friday, July 24th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $184.20.

FirstService Company 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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