TD Asset Management Inc Has $55.64 Million Stock Holdings in FirstService Corporation (NASDAQ:FSV)

Key Points

• TD Asset Management Inc increased its holdings in FirstService Corporation by 61.6% in the first quarter, now owning approximately $55.64 million worth of shares.
• Shares of FirstService recently received upgraded ratings from Wall Street analysts, with a current consensus rating of "Moderate Buy" and a target price of $215.25.
• FirstService reported $1.71 EPS for the last quarter, exceeding analysts' expectations and showing a 9.1% increase in revenue year-over-year.

TD Asset Management Inc boosted its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 61.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 335,542 shares of the financial services provider's stock after purchasing an additional 127,846 shares during the period. TD Asset Management Inc owned about 0.74% of FirstService worth $55,637,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FSV. Spire Wealth Management boosted its stake in FirstService by 52.1% during the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock valued at $90,000 after purchasing an additional 186 shares in the last quarter. Natixis boosted its stake in FirstService by 5,511.1% during the 4th quarter. Natixis now owns 505 shares of the financial services provider's stock valued at $91,000 after purchasing an additional 496 shares in the last quarter. State of Wyoming bought a new position in FirstService during the 4th quarter valued at $101,000. Fifth Third Bancorp boosted its stake in FirstService by 23.0% during the 1st quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock valued at $128,000 after purchasing an additional 144 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new position in FirstService during the 4th quarter valued at $201,000. Hedge funds and other institutional investors own 69.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FSV shares. Scotiabank reduced their price objective on FirstService from $217.50 to $210.00 and set a "sector perform" rating for the company in a research note on Thursday, April 17th. TD Securities raised their price objective on FirstService from $200.00 to $211.00 and gave the stock a "hold" rating in a research note on Friday. Finally, Wall Street Zen raised FirstService from a "hold" rating to a "buy" rating in a research note on Saturday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.25.

FirstService Price Performance

FSV traded up $1.05 during midday trading on Tuesday, reaching $196.62. 510,321 shares of the company's stock were exchanged, compared to its average volume of 141,516. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 63.02 and a beta of 0.99. The company has a quick ratio of 1.94, a current ratio of 1.70 and a debt-to-equity ratio of 0.99. FirstService Corporation has a one year low of $153.13 and a one year high of $201.10. The business has a 50-day simple moving average of $177.58 and a two-hundred day simple moving average of $174.83.

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 (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.26. The company 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 EPS. As a group, research analysts predict 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, July 8th. Stockholders of record on Monday, June 30th were issued a $0.275 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.56%. FirstService's payout ratio is 35.26%.

FirstService 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.