Y Intercept Hong Kong Ltd Has $843,000 Position in FirstService Corporation $FSV

Y Intercept Hong Kong Ltd lifted its holdings in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 146.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 6,068 shares of the financial services provider’s stock after buying an additional 3,602 shares during the period. Y Intercept Hong Kong Ltd’s holdings in FirstService were worth $843,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. M&T Bank Corp bought a new stake in shares of FirstService during the 4th quarter valued at about $6,120,000. Captrust Financial Advisors increased its holdings in FirstService by 3.0% in the third quarter. Captrust Financial Advisors now owns 247,931 shares of the financial services provider’s stock worth $47,228,000 after purchasing an additional 7,136 shares in the last quarter. UBS Group AG increased its holdings in FirstService by 40.5% in the fourth quarter. UBS Group AG now owns 174,467 shares of the financial services provider’s stock worth $27,135,000 after purchasing an additional 50,263 shares in the last quarter. Copeland Capital Management LLC lifted its stake in FirstService by 3.3% in the fourth quarter. Copeland Capital Management LLC now owns 346,042 shares of the financial services provider’s stock valued at $53,820,000 after buying an additional 10,970 shares during the period. Finally, Jacobson & Schmitt Advisors LLC lifted its stake in FirstService by 52.4% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 144,994 shares of the financial services provider’s stock valued at $22,551,000 after buying an additional 49,829 shares during the period. 69.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FSV. TD Cowen reaffirmed a “buy” rating and set a $204.00 price objective on shares of FirstService in a research report on Wednesday, June 3rd. Wall Street Zen upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Loop Capital started coverage on shares of FirstService in a research note on Monday, May 4th. They set a “hold” rating and a $140.00 target price on the stock. Scotiabank cut their target price on shares of FirstService from $190.00 to $175.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Finally, TD Securities set a $204.00 price target on shares of FirstService in a report on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $195.56.

FirstService Stock Performance

NASDAQ FSV opened at $143.44 on Monday. FirstService Corporation has a 1 year low of $119.41 and a 1 year high of $209.66. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 40.52, a PEG ratio of 4.35 and a beta of 0.94. The company has a fifty day moving average price of $137.01 and a 200-day moving average price of $146.17.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the firm earned $0.92 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. As a group, equities research analysts predict that FirstService Corporation will post 5.55 EPS for the current fiscal year.

FirstService Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 30th were paid a $0.305 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.22 annualized dividend and a yield of 0.9%. FirstService’s dividend payout ratio (DPR) is 34.46%.

FirstService Company 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.