UBS Group AG Has $27.14 Million Holdings in FirstService Corporation $FSV

Key Points

• UBS Group AG increased its FirstService stake by 40.5% in the fourth quarter, ending with 174,467 shares valued at about $27.1 million. Institutional ownership remains high, with hedge funds and institutions holding 69.35% of the stock.
• FirstService received mixed but generally positive analyst attention, with several firms maintaining or trimming price targets while keeping buy/outperform-style ratings. The stock’s consensus rating is Moderate Buy with an average target price of $196.89.
• The company reported solid quarterly results, beating EPS expectations at $0.95 per share on revenue of $1.30 billion, and it also announced a quarterly dividend of $0.305 per share. At the reported share price of $134.56, that implies an annualized yield of about 0.9%.

UBS Group AG lifted its stake in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 40.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 174,467 shares of the financial services provider's stock after buying an additional 50,263 shares during the period. UBS Group AG owned about 0.38% of FirstService worth $27,135,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Durable Capital Partners LP increased its holdings in shares of FirstService by 12.9% during the third quarter. Durable Capital Partners LP now owns 2,216,720 shares of the financial services provider's stock worth $422,263,000 after buying an additional 253,155 shares in the last quarter. Vanguard Group Inc. increased its holdings in FirstService by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 1,954,819 shares of the financial services provider's stock valued at $304,000,000 after purchasing an additional 29,805 shares during the period. Mackenzie Financial Corp increased its holdings in FirstService by 5.1% in the third quarter. Mackenzie Financial Corp now owns 1,551,175 shares of the financial services provider's stock valued at $295,481,000 after purchasing an additional 75,712 shares during the period. Orbis Allan Gray Ltd increased its holdings in FirstService by 0.5% in the second quarter. Orbis Allan Gray Ltd now owns 1,423,870 shares of the financial services provider's stock valued at $248,636,000 after purchasing an additional 6,680 shares during the period. Finally, Franklin Resources Inc. increased its holdings in FirstService by 2.3% in the third quarter. Franklin Resources Inc. now owns 600,155 shares of the financial services provider's stock valued at $114,323,000 after purchasing an additional 13,264 shares during the period. 69.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. TD Cowen decreased their price objective on FirstService from $217.00 to $201.00 and set a "buy" rating for the company in a report on Tuesday, April 14th. BMO Capital Markets restated an "outperform" rating and issued a $202.00 price objective on shares of FirstService in a report on Thursday, February 5th. Loop Capital assumed coverage on FirstService in a report on Monday, May 4th. They issued a "hold" rating and a $140.00 price objective for the company. Scotiabank decreased their price objective on FirstService from $205.00 to $190.00 and set a "sector outperform" rating for the company in a report on Friday, April 24th. Finally, Wall Street Zen upgraded FirstService from a "hold" rating to a "buy" rating in a report on Saturday. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $196.89.

FirstService Price Performance

FSV stock opened at $134.56 on Friday. The stock has a market capitalization of $6.19 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 4.09 and a beta of 0.97. The company's 50-day moving average is $143.87 and its 200-day moving average is $152.48. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.66 and a quick ratio of 1.73. FirstService Corporation has a 1 year low of $124.37 and a 1 year high of $209.66.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.06. The company had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.29 billion. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The business's revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. Equities research analysts expect that FirstService Corporation will post 5.54 EPS for the current fiscal year.

FirstService Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. FirstService's dividend payout ratio is 34.46%.

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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