Forsta AP Fonden Acquires New Position in FirstService Corporation $FSV

Forsta AP Fonden acquired a new stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,200 shares of the financial services provider’s stock, valued at approximately $810,000.

Other large investors also recently modified their holdings of the company. JPL Wealth Management LLC purchased a new position in shares of FirstService during the 3rd quarter valued at about $26,000. Geneos Wealth Management Inc. lifted its position in FirstService by 63.7% in the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 79 shares during the last quarter. Strs Ohio bought a new stake in FirstService in the first quarter valued at approximately $38,000. EverSource Wealth Advisors LLC lifted its position in FirstService by 400.0% in the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 292 shares during the last quarter. Finally, Sagard Holdings Management Inc. bought a new stake in FirstService in the third quarter valued at approximately $79,000. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Price Performance

Shares of FSV stock opened at $137.27 on Thursday. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 38.78, a PEG ratio of 4.20 and a beta of 0.95. The business’s fifty day moving average is $138.46 and its 200 day moving average is $148.61. FirstService Corporation has a twelve month low of $119.41 and a twelve month high of $209.66. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.74.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.89 by $0.06. FirstService had a return on equity of 17.91% and a net margin of 2.92%.The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts expect that FirstService Corporation will post 5.54 EPS for the current fiscal year.

FirstService Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 30th will be issued a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. FirstService’s payout ratio is 34.46%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. TD Cowen reiterated a “buy” rating and issued a $204.00 price objective on shares of FirstService in a research report on Wednesday. TD Securities set a $204.00 price objective on FirstService in a research report on Friday, April 24th. Wall Street Zen upgraded FirstService from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Scotiabank lowered their price objective on FirstService from $205.00 to $190.00 and set a “sector outperform” rating for the company in a research report on Friday, April 24th. Finally, Stifel Nicolaus lowered their price objective on FirstService from $215.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $197.22.

About FirstService

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.