Mawer Investment Management Ltd. decreased its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 267,214 shares of the financial services provider’s stock after selling 4,100 shares during the period. Mawer Investment Management Ltd. owned about 0.77% of FirstService worth $17,569,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Parametric Portfolio Associates LLC increased its stake in shares of FirstService by 10.3% in the first quarter. Parametric Portfolio Associates LLC now owns 7,853 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 733 shares in the last quarter. JPMorgan Chase & Co. grew its stake in FirstService by 4.2% during the first quarter. JPMorgan Chase & Co. now owns 4,860 shares of the financial services provider’s stock valued at $224,000 after acquiring an additional 195 shares in the last quarter. Alliancebernstein L.P. grew its stake in FirstService by 7.4% during the first quarter. Alliancebernstein L.P. now owns 19,970 shares of the financial services provider’s stock valued at $1,204,000 after acquiring an additional 1,380 shares in the last quarter. FMR LLC grew its stake in FirstService by 54.8% during the first quarter. FMR LLC now owns 46,079 shares of the financial services provider’s stock valued at $2,786,000 after acquiring an additional 16,313 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in FirstService by 37.7% during the first quarter. Legal & General Group Plc now owns 3,289 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 900 shares in the last quarter. Institutional investors and hedge funds own 61.17% of the company’s stock.
Several equities analysts recently weighed in on FSV shares. William Blair cut shares of FirstService from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 13th. Zacks Investment Research raised shares of FirstService from a “hold” rating to a “strong-buy” rating and set a $80.00 target price for the company in a research note on Tuesday, October 31st. Royal Bank Of Canada cut shares of FirstService from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $71.00 to $75.00 in a research note on Thursday, October 26th. BidaskClub raised shares of FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Finally, Scotiabank cut shares of FirstService from an “outperform” rating to a “sector perform” rating in a research note on Thursday, October 26th. Six investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $69.20.
Shares of FirstService Corporation (NASDAQ FSV) traded up $0.71 during trading hours on Thursday, hitting $69.05. 16,879 shares of the company’s stock were exchanged, compared to its average volume of 40,264. The stock 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 Corporation has a 1-year low of $44.15 and a 1-year high of $74.49.
FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.24. The firm had revenue of $456.50 million during 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%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business earned $0.62 EPS. equities research analysts forecast that FirstService Corporation will post 1.93 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 29th will be issued a $0.1225 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.49 annualized dividend and a dividend yield of 0.71%. FirstService’s dividend payout ratio (DPR) is presently 39.52%.
FirstService announced that its board has initiated a stock buyback program on Thursday, August 17th that permits the company to repurchase 3,100,000 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
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FirstService Company Profile
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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