Geode Capital Management LLC Purchases 43,695 Shares of FirstService Corporation $FSV

Geode Capital Management LLC grew its position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 9.0% in the fourth quarter, Holdings Channel reports. The fund owned 529,854 shares of the financial services provider’s stock after buying an additional 43,695 shares during the quarter. Geode Capital Management LLC’s holdings in FirstService were worth $87,275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FSV. Durable Capital Partners LP boosted its position in shares of FirstService by 12.9% during the 3rd quarter. Durable Capital Partners LP now owns 2,216,720 shares of the financial services provider’s stock valued at $422,263,000 after acquiring an additional 253,155 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of FirstService by 79.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider’s stock valued at $52,880,000 after acquiring an additional 141,152 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of FirstService by 19.9% during the 4th quarter. William Blair Investment Management LLC now owns 596,249 shares of the financial services provider’s stock valued at $92,735,000 after acquiring an additional 98,808 shares during the last quarter. Bank of Montreal Can boosted its position in shares of FirstService by 27.8% during the 3rd quarter. Bank of Montreal Can now owns 416,766 shares of the financial services provider’s stock valued at $79,389,000 after acquiring an additional 90,545 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its position in shares of FirstService by 89.4% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 190,823 shares of the financial services provider’s stock valued at $29,715,000 after acquiring an additional 90,075 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. TD Cowen restated a “buy” rating and set a $204.00 price target on shares of FirstService in a report on Wednesday, June 3rd. Stifel Nicolaus decreased their price target on FirstService from $215.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Scotiabank decreased their price target on FirstService from $205.00 to $190.00 and set a “sector outperform” rating on the stock in a report on Friday, April 24th. TD increased their price target on FirstService from $201.00 to $204.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, TD Securities set a $204.00 price target on FirstService in a report on Friday, April 24th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $197.22.

FirstService Stock Performance

NASDAQ:FSV opened at $140.68 on Monday. The stock’s fifty day moving average is $138.59 and its 200 day moving average is $148.42. FirstService Corporation has a fifty-two week low of $119.41 and a fifty-two week high of $209.66. The firm has a market capitalization of $6.47 billion, a PE ratio of 39.74, a PEG ratio of 4.27 and a beta of 0.95. 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 (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.29 billion. During the same period last year, the company earned $0.92 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts anticipate that FirstService Corporation will post 5.54 earnings per share for the current year.

FirstService Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th. FirstService’s dividend payout ratio (DPR) is 34.46%.

FirstService 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.