TD Waterhouse Canada Inc. Buys 15,061 Shares of FirstService Corporation $FSV

TD Waterhouse Canada Inc. raised its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 16.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,353 shares of the financial services provider’s stock after purchasing an additional 15,061 shares during the period. TD Waterhouse Canada Inc. owned 0.23% of FirstService worth $18,484,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Orbis Allan Gray Ltd boosted its holdings in shares of 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 worth $235,183,000 after buying an additional 224,125 shares during the period. Goldman Sachs Group Inc. boosted its holdings in FirstService by 79.5% during the first quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider’s stock valued at $52,880,000 after acquiring an additional 141,152 shares during the period. TD Asset Management Inc boosted its holdings in FirstService by 61.6% during the first quarter. TD Asset Management Inc now owns 335,542 shares of the financial services provider’s stock valued at $55,637,000 after acquiring an additional 127,846 shares during the period. Geneva Capital Management LLC grew its position in shares of FirstService by 52.3% in the first quarter. Geneva Capital Management LLC now owns 362,293 shares of the financial services provider’s stock valued at $60,123,000 after purchasing an additional 124,385 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of FirstService by 27.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 533,385 shares of the financial services provider’s stock worth $88,459,000 after purchasing an additional 115,898 shares during the period. 69.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on FSV shares. Weiss Ratings restated a “hold (c+)” rating on shares of FirstService in a research note on Thursday, November 13th. Wall Street Zen cut FirstService from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Raymond James Financial lowered their price objective on shares of FirstService from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Scotiabank upgraded shares of FirstService from a “sector perform” rating to a “sector outperform” rating and cut their target price for the company from $220.00 to $205.00 in a research note on Friday, October 24th. Finally, CIBC reduced their price target on shares of FirstService from $225.00 to $216.00 and set an “outperform” rating for the company in a report on Friday, October 24th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.83.

FirstService Price Performance

Shares of FirstService stock opened at $152.27 on Thursday. The firm has a market cap of $6.96 billion, a P/E ratio of 50.42 and a beta of 0.99. The firm’s 50-day simple moving average is $177.28 and its 200-day simple moving average is $182.12. FirstService Corporation has a twelve month low of $149.13 and a twelve month high of $209.66. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.76 and a current ratio of 1.73.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.76. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.47 billion. FirstService had a return on equity of 17.98% and a net margin of 2.53%.The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.63 earnings per share. As a group, research analysts expect that FirstService Corporation will post 5.27 EPS for the current fiscal year.

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th were paid 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 yield of 0.7%. FirstService’s dividend payout ratio (DPR) is presently 36.42%.

About FirstService

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.