FirstService Co. (NASDAQ:FSV) Shares Acquired by Truist Financial Corp

Truist Financial Corp increased its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,022 shares of the financial services provider’s stock after acquiring an additional 230 shares during the period. Truist Financial Corp owned approximately 0.05% of FirstService worth $3,660,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its holdings in shares of FirstService by 6.8% in the second quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider’s stock valued at $415,427,000 after buying an additional 174,970 shares in the last quarter. Vanguard Group Inc. raised its position in shares of FirstService by 4.8% during the first quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock worth $274,363,000 after purchasing an additional 76,503 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of FirstService by 3.2% during the second quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider’s stock valued at $217,409,000 after purchasing an additional 44,236 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of FirstService by 0.8% in the 2nd quarter. William Blair Investment Management LLC now owns 861,871 shares of the financial services provider’s stock valued at $131,323,000 after purchasing an additional 6,863 shares during the period. Finally, Renaissance Technologies LLC increased its stake in FirstService by 3.4% in the 2nd quarter. Renaissance Technologies LLC now owns 643,388 shares of the financial services provider’s stock worth $98,033,000 after purchasing an additional 21,100 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FSV shares. Royal Bank of Canada upped their price objective 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. TD Securities raised their price objective on shares of FirstService from $178.00 to $179.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Scotiabank lifted 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $189.50.

FirstService Stock Up 2.4 %

FirstService stock opened at $180.40 on Wednesday. FirstService Co. has a twelve month low of $134.77 and a twelve month high of $183.86. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $8.11 billion, a PE ratio of 89.31 and a beta of 1.05. The firm’s 50 day moving average price is $176.79 and its two-hundred day moving average price is $162.34.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.10. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company earned $1.37 earnings per share. FirstService’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, research analysts predict that FirstService Co. will post 4.35 EPS for the current fiscal year.

FirstService Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 0.55%. FirstService’s dividend payout ratio is 49.50%.

About FirstService

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.