FirstService Corporation $FSV Shares Bought by Louisbourg Investments Inc.

Louisbourg Investments Inc. raised its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 23.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,387 shares of the financial services provider’s stock after buying an additional 5,747 shares during the period. Louisbourg Investments Inc. owned about 0.07% of FirstService worth $4,219,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. JPL Wealth Management LLC purchased a new position in shares of FirstService in the 3rd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd increased its holdings in FirstService by 88.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 81 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in FirstService during the fourth quarter worth $34,000. Geneos Wealth Management Inc. lifted its holdings in FirstService by 63.7% during the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 79 shares in the last quarter. Finally, Strs Ohio purchased a new position in FirstService during the first quarter valued at $38,000. 69.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wall Street Zen raised shares of FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. TD boosted their price objective on FirstService from $201.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. TD Cowen reissued a “buy” rating and set a $204.00 target price on shares of FirstService in a report on Wednesday, June 3rd. Scotiabank decreased their target price on FirstService from $205.00 to $190.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 24th. Finally, TD Securities set a $204.00 price target on FirstService in a research note on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, FirstService currently has an average rating of “Moderate Buy” and an average price target of $197.22.

FirstService Stock Up 3.6%

Shares of NASDAQ FSV opened at $140.85 on Friday. The stock has a market cap of $6.47 billion, a PE ratio of 39.79, a P/E/G ratio of 4.28 and a beta of 0.95. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.74. FirstService Corporation has a 12-month low of $119.41 and a 12-month high of $209.66. The company has a 50-day moving average of $137.63 and a 200 day moving average of $146.90.

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 analysts’ consensus estimates of $0.89 by $0.06. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the company posted $0.92 EPS. The business’s revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts predict that FirstService Corporation will post 5.54 EPS for the current fiscal year.

FirstService Dividend Announcement

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