29,570 Shares in FirstService Corporation $FSV Bought by Motley Fool Wealth Management LLC

Motley Fool Wealth Management LLC acquired a new position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 29,570 shares of the financial services provider’s stock, valued at approximately $5,164,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TCTC Holdings LLC raised its holdings in FirstService by 155.2% during the first quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 104 shares during the last quarter. Strs Ohio purchased a new position in FirstService during the first quarter worth $38,000. Spire Wealth Management increased its position in FirstService by 52.1% during the first quarter. Spire Wealth Management now owns 543 shares of the financial services provider’s stock worth $90,000 after buying an additional 186 shares in the last quarter. SVB Wealth LLC purchased a new position in FirstService during the first quarter worth $90,000. Finally, State of Wyoming increased its position in FirstService by 11.1% during the first quarter. State of Wyoming now owns 621 shares of the financial services provider’s stock worth $103,000 after buying an additional 62 shares in the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FSV has been the subject of several recent research reports. CIBC dropped their price target on FirstService from $225.00 to $216.00 and set an “outperform” rating for the company in a research report on Friday. Wall Street Zen downgraded FirstService from a “buy” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus dropped their price target on FirstService from $230.00 to $215.00 and set a “buy” rating for the company in a research report on Monday. Zacks Research downgraded FirstService from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of FirstService in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $212.17.

FirstService Price Performance

Shares of NASDAQ:FSV opened at $162.69 on Tuesday. The company has a market cap of $7.42 billion, a P/E ratio of 53.87 and a beta of 0.99. The company has a quick ratio of 1.76, a current ratio of 1.73 and a debt-to-equity ratio of 0.90. FirstService Corporation has a 52 week low of $153.13 and a 52 week high of $209.66. The business has a fifty day simple moving average of $192.96 and a 200-day simple moving average of $184.08.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $1.76 EPS for the quarter, meeting analysts’ consensus estimates of $1.76. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. FirstService had a return on equity of 17.98% and a net margin of 2.53%.The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 earnings per share. Equities research analysts forecast that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 30th were given a $0.275 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.7%. FirstService’s payout ratio is currently 36.42%.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.