FirstService Corporation $FSV Stock: Royce & Associates LP Boosts Stake

Royce & Associates LP grew its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 18.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 553,941 shares of the financial services provider’s stock after purchasing an additional 87,513 shares during the quarter. FirstService comprises about 0.6% of Royce & Associates LP’s portfolio, making the stock its 15th biggest holding. Royce & Associates LP’s holdings in FirstService were worth $70,838,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in shares of FirstService by 23.7% in the 1st quarter. Fifth Third Bancorp now owns 627 shares of the financial services provider’s stock valued at $87,000 after buying an additional 120 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of FirstService in the second quarter valued at $220,000. State of Wyoming bought a new position in shares of FirstService in the first quarter valued at $247,000. Vise Technologies Inc. acquired a new position in FirstService during the third quarter worth $290,000. Finally, Hilltop National Bank increased its holdings in FirstService by 4.1% during the second quarter. Hilltop National Bank now owns 2,055 shares of the financial services provider’s stock worth $292,000 after buying an additional 81 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.

Wall Street Analyst Weigh In

FSV has been the topic of several analyst reports. Canadian Imperial Bank of Commerce upped their price target on shares of FirstService from $170.00 to $178.00 and gave the stock an “outperform” rating in a research report on Friday, October 23rd. Raymond James Financial restated an “outperform” rating and set a $190.00 price objective on shares of FirstService in a research note on Friday, October 23rd. TD boosted their price objective on shares of FirstService from $195.00 to $203.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Weiss Ratings cut shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, November 4th. Finally, Scotiabank reiterated an “outperform” rating on shares of FirstService in a research note on Friday, October 23rd. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, FirstService presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.82.

FirstService Stock Performance

Shares of FSV stock traded up $0.26 during trading on Friday, reaching $154.42. 254,680 shares of the company’s stock were exchanged, compared to its average volume of 177,707. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $6.47 billion, a PE ratio of 47.08, a PEG ratio of 2.90 and a beta of 0.89. FirstService Corporation has a twelve month low of $119.41 and a twelve month high of $166.73. The firm’s fifty day moving average price is $138.14 and its 200-day moving average price is $142.06.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.05. FirstService had a return on equity of 19.66% and a net margin of 2.59%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business earned $1.76 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that FirstService Corporation will post 5.63 EPS for the current year.

FirstService Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 30th were issued a $0.3050 dividend. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, September 30th. FirstService’s payout ratio is currently 37.20%.

FirstService Company Profile

FirstService Corporation is a North American property services company operating through two primary businesses: FirstService Residential and FirstService Brands. The company serves residential communities and property owners in the United States and Canada. FirstService Residential provides property management services to condominium and homeowner associations, as well as other residential communities. Its services include day-to-day community operations, maintenance coordination, financial administration and support for boards and residents.