FirstService Co. (NASDAQ:FSV) Shares Bought by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 22.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 80,324 shares of the financial services provider’s stock after acquiring an additional 14,618 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.18% of FirstService worth $12,226,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Gulf International Bank UK Ltd raised its stake in FirstService by 25.9% during the first quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 75 shares during the period. Scotia Capital Inc. lifted its holdings in FirstService by 0.7% in the fourth quarter. Scotia Capital Inc. now owns 11,049 shares of the financial services provider’s stock valued at $1,785,000 after acquiring an additional 81 shares during the last quarter. Benjamin Edwards Inc. grew its position in FirstService by 35.0% in the second quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 91 shares during the period. Fifth Third Bancorp increased its stake in FirstService by 20.5% during the second quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 108 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in FirstService by 49.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 138 shares during the period. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Stock Up 0.3 %

Shares of FSV opened at $183.13 on Wednesday. The company’s 50-day simple moving average is $174.54 and its 200-day simple moving average is $161.49. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.84 and a current ratio of 1.84. FirstService Co. has a 1 year low of $134.77 and a 1 year high of $183.46. The stock has a market capitalization of $8.24 billion, a PE ratio of 90.66 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Thursday, July 25th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.10. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.37 EPS. Analysts forecast that FirstService Co. will post 4.32 earnings per share for the current fiscal year.

FirstService Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 30th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, September 27th. This represents a $1.00 annualized dividend and a yield of 0.55%. FirstService’s payout ratio is 49.50%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. TD Securities increased their price target on FirstService from $178.00 to $179.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. BMO Capital Markets increased their target price on shares of FirstService from $193.00 to $196.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Royal Bank of Canada boosted their price target on shares of FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Scotiabank increased their price objective on shares of FirstService from $175.00 to $190.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, FirstService has a consensus rating of “Moderate Buy” and a consensus target price of $189.50.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.