FirstService Corporation $FSV Stock: BCV Asset Management Inc. Increases Position

BCV Asset Management Inc. increased its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 33.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 677,078 shares of the financial services provider’s stock after purchasing an additional 170,544 shares during the period. FirstService makes up approximately 2.7% of BCV Asset Management Inc.’s holdings, making the stock its 12th biggest holding. BCV Asset Management Inc.’s holdings in FirstService were worth $87,268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp lifted its position in shares of FirstService by 23.7% during the first quarter. Fifth Third Bancorp now owns 627 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 120 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in FirstService during the 2nd quarter valued at $220,000. State of Wyoming acquired a new stake in FirstService during the 1st quarter valued at $247,000. Vise Technologies Inc. purchased a new stake in FirstService during the 3rd quarter worth $290,000. Finally, Hilltop National Bank increased its stake in FirstService by 4.1% during the 2nd quarter. Hilltop National Bank now owns 2,055 shares of the financial services provider’s stock worth $292,000 after buying an additional 81 shares during the period. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on FSV shares. BMO Capital Markets reiterated an “outperform” rating and issued a $179.00 price objective on shares of FirstService in a report on Friday, October 23rd. Wall Street Zen upgraded FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Scotiabank restated an “outperform” rating on shares of FirstService in a research note on Friday, October 23rd. Canadian Imperial Bank of Commerce lifted their target price on FirstService from $170.00 to $178.00 and gave the stock an “outperform” rating in a research report on Friday, October 23rd. Finally, Deutsche Bank reissued a “hold” rating and issued a $144.00 price target on shares of FirstService in a report on Friday, July 24th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.82.

FirstService Trading Up 0.2%

NASDAQ FSV opened at $154.42 on Friday. FirstService Corporation has a 12 month low of $119.41 and a 12 month high of $166.73. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of 47.08, a price-to-earnings-growth ratio of 2.90 and a beta of 0.89. The company’s fifty day moving average price is $138.14 and its two-hundred day moving average price is $142.06.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Thursday, October 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.05. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. FirstService had a net margin of 2.59% and a return on equity of 19.66%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.76 EPS. As a group, research analysts predict that FirstService Corporation will post 5.63 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.3050 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. FirstService’s dividend payout ratio (DPR) is presently 37.20%.

FirstService Company Profile

FirstService Corporation is a North American property services company operating through two primary businesses: FirstService Residential and FirstService Brands. The company serves residential communities and property owners in the United States and Canada. FirstService Residential provides property management services to condominium and homeowner associations, as well as other residential communities. Its services include day-to-day community operations, maintenance coordination, financial administration and support for boards and residents.