FirstService Corporation $FSV Shares Acquired by Scotia Capital Inc.

Scotia Capital Inc. lifted its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 1.3% in the second quarter, HoldingsChannel reports. The firm owned 30,087 shares of the financial services provider’s stock after acquiring an additional 384 shares during the quarter. Scotia Capital Inc.’s holdings in FirstService were worth $5,254,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hsbc Holdings PLC raised its position in FirstService by 100.1% in the 2nd quarter. Hsbc Holdings PLC now owns 79,206 shares of the financial services provider’s stock valued at $13,792,000 after purchasing an additional 39,616 shares in the last quarter. Bank of Nova Scotia Trust Co. grew its position in shares of FirstService by 2.2% during the second quarter. Bank of Nova Scotia Trust Co. now owns 7,559 shares of the financial services provider’s stock worth $1,320,000 after buying an additional 165 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in shares of FirstService during the second quarter worth approximately $383,000. Russell Investments Group Ltd. raised its holdings in FirstService by 13.4% in the second quarter. Russell Investments Group Ltd. now owns 61,526 shares of the financial services provider’s stock valued at $10,731,000 after acquiring an additional 7,282 shares in the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in FirstService in the second quarter worth approximately $56,029,000. 69.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FSV has been the topic of a number of recent analyst reports. Scotiabank raised shares of FirstService from a “sector perform” rating to a “sector outperform” rating and dropped their price objective for the company from $220.00 to $205.00 in a research report on Friday, October 24th. BMO Capital Markets set a $209.00 target price on FirstService and gave the company an “outperform” rating in a report on Friday, October 24th. Raymond James Financial decreased their price target on FirstService from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Monday, October 27th. Wall Street Zen cut FirstService from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of FirstService in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, FirstService presently has an average rating of “Moderate Buy” and a consensus target price of $211.83.

FirstService Stock Performance

Shares of FSV stock opened at $156.85 on Friday. The stock’s 50-day moving average is $170.26 and its two-hundred day moving average is $181.10. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.76 and a current ratio of 1.73. FirstService Corporation has a 1 year low of $149.13 and a 1 year high of $209.66. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of 51.94 and a beta of 0.99.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, October 23rd. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.76. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.47 billion. FirstService had a return on equity of 17.98% and a net margin of 2.53%.The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 EPS. Analysts predict that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.275 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.7%. FirstService’s dividend payout ratio (DPR) is 36.42%.

About FirstService

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.