FirstService Corporation $FSV Shares Purchased by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. raised its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 8.3% in the 2nd quarter, Holdings Channel reports. The firm owned 101,296 shares of the financial services provider’s stock after purchasing an additional 7,781 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in FirstService were worth $17,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in FirstService by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,815,548 shares of the financial services provider’s stock valued at $301,051,000 after purchasing an additional 20,872 shares during the last quarter. Orbis Allan Gray Ltd boosted its position in FirstService by 18.8% during the 1st quarter. Orbis Allan Gray Ltd now owns 1,417,190 shares of the financial services provider’s stock valued at $235,183,000 after purchasing an additional 224,125 shares during the period. Price T Rowe Associates Inc. MD boosted its position in FirstService by 2.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 671,431 shares of the financial services provider’s stock valued at $111,424,000 after purchasing an additional 15,334 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in FirstService by 27.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 533,385 shares of the financial services provider’s stock valued at $88,459,000 after purchasing an additional 115,898 shares during the period. Finally, Copeland Capital Management LLC boosted its position in FirstService by 7.2% during the 1st quarter. Copeland Capital Management LLC now owns 382,852 shares of the financial services provider’s stock valued at $63,534,000 after purchasing an additional 25,829 shares during the period. Institutional investors own 69.35% of the company’s stock.

FirstService Price Performance

Shares of NASDAQ FSV opened at $183.15 on Monday. FirstService Corporation has a twelve month low of $153.13 and a twelve month high of $209.66. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $8.35 billion, a price-to-earnings ratio of 58.70 and a beta of 0.99. The firm has a 50-day moving average of $197.07 and a two-hundred day moving average of $183.02.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.26. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company earned $1.36 EPS. FirstService’s revenue was up 9.1% on a year-over-year basis. As a group, analysts expect that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.10 dividend on an annualized basis and a yield of 0.6%. FirstService’s dividend payout ratio is currently 35.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FSV shares. TD Securities restated a “hold” rating on shares of FirstService in a research report on Thursday, September 4th. Wall Street Zen upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research report on Sunday, September 7th. Scotiabank upped their price target on shares of FirstService from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 30th. Weiss Ratings restated a “buy (b-)” rating on shares of FirstService in a research report on Wednesday, October 8th. Finally, Zacks Research lowered shares of FirstService from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $217.75.

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.