226,848 Shares in FirstService Corporation $FSV Purchased by SEB Asset Management AB

SEB Asset Management AB acquired a new stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) in the first quarter, Holdings Channel reports. The firm acquired 226,848 shares of the financial services provider’s stock, valued at approximately $31,487,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. JPL Wealth Management LLC bought a new position in FirstService in the 3rd quarter worth about $26,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of FirstService by 88.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 81 shares during the period. Kestra Advisory Services LLC bought a new position in FirstService in the fourth quarter worth approximately $34,000. Geneos Wealth Management Inc. grew its stake in FirstService by 63.7% in the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 79 shares in the last quarter. Finally, Strs Ohio purchased a new position in FirstService during the 1st quarter worth $38,000. 69.35% of the stock is currently owned by institutional investors.

FirstService Stock Performance

Shares of NASDAQ:FSV opened at $148.46 on Monday. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 41.94, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. FirstService Corporation has a 52 week low of $119.41 and a 52 week high of $209.66. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.74. The firm has a 50 day moving average of $138.48 and a 200 day moving average of $145.84.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted 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. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. FirstService had a return on equity of 17.91% and a net margin of 2.92%.FirstService’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. On average, sell-side analysts predict that FirstService Corporation will post 5.57 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th were paid a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, June 30th. FirstService’s dividend payout ratio is 34.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FSV shares. Weiss Ratings cut FirstService from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Wall Street Zen upgraded FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. TD Securities set a $204.00 price objective on FirstService in a report on Friday, April 24th. Loop Capital assumed coverage on shares of FirstService in a research note on Monday, May 4th. They issued a “hold” rating and a $140.00 price objective for the company. Finally, TD Cowen reiterated a “buy” rating and set a $204.00 target price on shares of FirstService in a report on Wednesday, June 3rd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, FirstService has a consensus rating of “Moderate Buy” and an average target price of $195.89.

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.