Pembroke Management LTD trimmed its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 9.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 269,600 shares of the financial services provider’s stock after selling 28,800 shares during the quarter. FirstService comprises 2.2% of Pembroke Management LTD’s portfolio, making the stock its 15th biggest holding. Pembroke Management LTD owned 0.78% of FirstService worth $22,105,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of FSV. JPMorgan Chase & Co. lifted its stake in FirstService by 1,515.7% during the second quarter. JPMorgan Chase & Co. now owns 78,523 shares of the financial services provider’s stock worth $3,612,000 after purchasing an additional 73,663 shares during the period. Fiera Capital Corp increased its holdings in shares of FirstService by 43.6% during the second quarter. Fiera Capital Corp now owns 1,176,304 shares of the financial services provider’s stock worth $75,345,000 after buying an additional 357,370 shares in the last quarter. Royce & Associates LP increased its holdings in shares of FirstService by 0.5% during the second quarter. Royce & Associates LP now owns 230,400 shares of the financial services provider’s stock worth $14,741,000 after buying an additional 1,200 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of FirstService by 41.8% during the second quarter. Goldman Sachs Group Inc. now owns 38,718 shares of the financial services provider’s stock worth $2,478,000 after buying an additional 11,418 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in shares of FirstService by 0.3% in the second quarter. Blair William & Co. IL now owns 19,379 shares of the financial services provider’s stock valued at $1,240,000 after purchasing an additional 49 shares in the last quarter. 61.17% of the stock is currently owned by hedge funds and other institutional investors.
FirstService Corporation (FSV) opened at $69.05 on Friday. FirstService Corporation has a 52 week low of $44.15 and a 52 week high of $74.49. The company has a market cap of $2,448.09, a PE ratio of 54.99 and a beta of 0.80. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.51.
FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.24. The business had revenue of $456.50 million for the quarter, compared to analyst estimates of $449.26 million. FirstService had a net margin of 2.74% and a return on equity of 24.16%. FirstService’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 EPS. equities analysts forecast that FirstService Corporation will post 1.93 earnings per share for the current year.
FirstService declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 17th that allows the company to repurchase 3,100,000 shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 29th will be given a $0.1225 dividend. This represents a $0.49 annualized dividend and a yield of 0.71%. The ex-dividend date is Thursday, December 28th. FirstService’s dividend payout ratio (DPR) is currently 39.52%.
FSV has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $71.00 target price on shares of FirstService in a report on Wednesday, September 27th. BidaskClub raised shares of FirstService from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Zacks Investment Research cut shares of FirstService from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Scotiabank cut shares of FirstService from an “outperform” rating to a “sector perform” rating in a research report on Thursday, October 26th. Finally, William Blair cut shares of FirstService from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 13th. Six equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. FirstService currently has a consensus rating of “Hold” and an average target price of $69.20.
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Firstservice Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company operates through two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides ancillary services in the areas of on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel, and landscaping; banking and insurance products, and energy conservation and management solutions.
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