Mackenzie Financial Corp Raises Position in FirstService Co. (NASDAQ:FSV)

Mackenzie Financial Corp grew its position in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,381,128 shares of the financial services provider's stock after purchasing an additional 16,362 shares during the period. Mackenzie Financial Corp owned about 5.34% of FirstService worth $385,917,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Durable Capital Partners LP increased its holdings in shares of FirstService by 2.2% in the fourth quarter. Durable Capital Partners LP now owns 3,993,742 shares of the financial services provider's stock worth $489,433,000 after buying an additional 85,703 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in FirstService by 2.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,626,939 shares of the financial services provider's stock worth $321,932,000 after purchasing an additional 61,747 shares during the period. Vanguard Group Inc. boosted its stake in shares of FirstService by 1.9% during the third quarter. Vanguard Group Inc. now owns 1,582,337 shares of the financial services provider's stock valued at $230,293,000 after purchasing an additional 29,482 shares during the period. Conestoga Capital Advisors LLC grew its holdings in shares of FirstService by 0.3% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,367,133 shares of the financial services provider's stock worth $221,599,000 after purchasing an additional 4,431 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of FirstService by 9.1% in the first quarter. Renaissance Technologies LLC now owns 909,980 shares of the financial services provider's stock worth $131,837,000 after buying an additional 76,192 shares during the period. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Stock Down 1.2 %

Shares of FSV traded down $1.88 on Monday, reaching $152.30. The stock had a trading volume of 60,881 shares, compared to its average volume of 77,017. The firm has a market capitalization of $6.85 billion, a price-to-earnings ratio of 67.99 and a beta of 0.97. The company has a 50-day simple moving average of $164.09 and a 200-day simple moving average of $158.06. FirstService Co. has a 12-month low of $134.77 and a 12-month high of $171.94. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.82 and a current ratio of 1.82.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $1.03 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.04). FirstService had a net margin of 2.32% and a return on equity of 17.56%. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.07 billion. Sell-side analysts predict that FirstService Co. will post 4.69 EPS for the current year.

FirstService Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 29th were issued a $0.25 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 0.66%. This is a positive change from FirstService's previous quarterly dividend of $0.23. FirstService's payout ratio is presently 44.64%.

Analyst Ratings Changes

Several brokerages have recently commented on FSV. Raymond James upped their price objective on shares of FirstService from $185.00 to $205.00 and gave the company an "outperform" rating in a research note on Friday, January 26th. Royal Bank of Canada reiterated an "outperform" rating and issued a $187.00 price objective on shares of FirstService in a report on Wednesday, February 7th. Scotiabank began coverage on FirstService in a research report on Thursday. They issued a "sector perform" rating and a $170.00 price objective on the stock. BMO Capital Markets decreased their target price on FirstService from $196.00 to $193.00 and set an "outperform" rating for the company in a report on Wednesday, February 7th. Finally, StockNews.com cut shares of FirstService from a "buy" rating to a "hold" rating in a report on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $177.86.

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.