CIBC Asset Management Inc Increases Holdings in FirstService Corp (FSV)

CIBC Asset Management Inc grew its position in FirstService Corp (NASDAQ:FSV) (TSE:FSV) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,570 shares of the financial services provider’s stock after purchasing an additional 6,741 shares during the quarter. CIBC Asset Management Inc owned approximately 0.21% of FirstService worth $5,238,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Highstreet Asset Management Inc. increased its holdings in FirstService by 611.1% in the 3rd quarter. Highstreet Asset Management Inc. now owns 2,553 shares of the financial services provider’s stock valued at $168,000 after buying an additional 2,194 shares during the period. Legal & General Group Plc boosted its stake in shares of FirstService by 6.0% in the 2nd quarter. Legal & General Group Plc now owns 3,487 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 198 shares in the last quarter. State of Wisconsin Investment Board acquired a new stake in shares of FirstService in the 3rd quarter valued at $308,000. UBS Asset Management Americas Inc. boosted its stake in shares of FirstService by 45.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 10,470 shares of the financial services provider’s stock valued at $671,000 after purchasing an additional 3,271 shares in the last quarter. Finally, Scotia Capital Inc. boosted its stake in shares of FirstService by 9.6% in the 2nd quarter. Scotia Capital Inc. now owns 11,819 shares of the financial services provider’s stock valued at $755,000 after purchasing an additional 1,034 shares in the last quarter. 61.77% of the stock is currently owned by institutional investors.

FSV has been the topic of several research reports. Royal Bank of Canada downgraded shares of FirstService from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $71.00 to $75.00 in a research report on Thursday, October 26th. Scotiabank downgraded shares of FirstService from an “outperform” rating to a “sector perform” rating in a research report on Thursday, October 26th. Zacks Investment Research upgraded shares of FirstService from a “hold” rating to a “strong-buy” rating and set a $80.00 price target on the stock in a research report on Tuesday, October 31st. BidaskClub downgraded shares of FirstService from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th. Finally, William Blair restated a “market perform” rating on shares of FirstService in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. FirstService currently has a consensus rating of “Hold” and a consensus target price of $69.20.

Shares of FirstService Corp (FSV) traded up $0.49 during mid-day trading on Wednesday, hitting $69.13. The stock had a trading volume of 48,300 shares, compared to its average volume of 40,615. The company has a current ratio of 1.18, a quick ratio of 0.95 and a debt-to-equity ratio of 1.33. The company has a market cap of $2,464.25, a PE ratio of 47.68 and a beta of 0.59. FirstService Corp has a one year low of $54.80 and a one year high of $74.49.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Wednesday, February 7th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. FirstService had a return on equity of 29.64% and a net margin of 3.11%. The business had revenue of $438.10 million during the quarter, compared to analysts’ expectations of $416.13 million. During the same period in the prior year, the business earned $0.41 EPS. FirstService’s revenue for the quarter was up 15.0% compared to the same quarter last year. analysts anticipate that FirstService Corp will post 2.65 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Thursday, March 29th will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.54 dividend on an annualized basis and a yield of 0.78%. This is an increase from FirstService’s previous quarterly dividend of $0.12. FirstService’s dividend payout ratio is 33.79%.

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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.

Institutional Ownership by Quarter for FirstService (NASDAQ:FSV)

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