FirstService Corporation $FSV Shares Purchased by Royce & Associates LP

Royce & Associates LP boosted its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 3.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 372,861 shares of the financial services provider’s stock after purchasing an additional 12,718 shares during the quarter. FirstService comprises about 0.6% of Royce & Associates LP’s holdings, making the stock its 25th largest position. Royce & Associates LP’s holdings in FirstService were worth $57,991,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Summitry LLC raised its stake in FirstService by 40.5% in the 4th quarter. Summitry LLC now owns 1,843 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 531 shares during the last quarter. Nicola Wealth Management LTD. purchased a new position in FirstService during the fourth quarter worth about $7,837,000. Legal & General Group Plc lifted its position in FirstService by 1.5% during the fourth quarter. Legal & General Group Plc now owns 265,074 shares of the financial services provider’s stock worth $41,277,000 after buying an additional 3,909 shares during the period. William Blair Investment Management LLC lifted its position in FirstService by 19.9% during the fourth quarter. William Blair Investment Management LLC now owns 596,249 shares of the financial services provider’s stock worth $92,735,000 after buying an additional 98,808 shares during the period. Finally, Catawba River Capital lifted its position in FirstService by 2.6% during the fourth quarter. Catawba River Capital now owns 48,939 shares of the financial services provider’s stock worth $7,612,000 after buying an additional 1,258 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Price Performance

FSV stock opened at $131.66 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.66 and a current ratio of 1.66. FirstService Corporation has a 1 year low of $119.41 and a 1 year high of $209.66. The firm has a market cap of $6.05 billion, a P/E ratio of 37.19, a price-to-earnings-growth ratio of 4.00 and a beta of 0.97. The stock has a 50-day simple moving average of $138.97 and a 200-day simple moving average of $149.52.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. FirstService had a return on equity of 17.91% and a net margin of 2.92%.The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the firm earned $0.92 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts predict that FirstService Corporation will post 5.54 earnings per share for the current fiscal year.

FirstService Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Loop Capital assumed coverage on FirstService in a research report on Monday, May 4th. They set a “hold” rating and a $140.00 target price on the stock. TD Securities set a $204.00 target price on FirstService in a research report on Friday, April 24th. TD increased their target price on FirstService from $201.00 to $204.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Stifel Nicolaus reduced their target price on FirstService from $215.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Finally, Wall Street Zen upgraded FirstService from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $196.89.

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.