Lincluden Management Ltd. Buys 3,011 Shares of FirstService Corporation $FSV

Lincluden Management Ltd. increased its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 7.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 43,470 shares of the financial services provider’s stock after purchasing an additional 3,011 shares during the quarter. FirstService accounts for approximately 0.8% of Lincluden Management Ltd.’s portfolio, making the stock its 26th largest position. Lincluden Management Ltd.’s holdings in FirstService were worth $7,579,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Blair William & Co. IL grew its position in FirstService by 56.9% during the 2nd quarter. Blair William & Co. IL now owns 145,399 shares of the financial services provider’s stock worth $25,390,000 after acquiring an additional 52,748 shares during the last quarter. Hardy Reed LLC bought a new position in FirstService during the 2nd quarter worth approximately $216,000. 111 Capital grew its position in FirstService by 58.1% during the 2nd quarter. 111 Capital now owns 2,035 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 748 shares during the last quarter. Hilltop National Bank bought a new position in FirstService during the 2nd quarter worth approximately $245,000. Finally, J. Safra Sarasin Holding AG grew its position in FirstService by 78.6% during the 2nd quarter. J. Safra Sarasin Holding AG now owns 6,834 shares of the financial services provider’s stock worth $1,190,000 after acquiring an additional 3,008 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors.

FirstService Stock Down 0.5%

Shares of NASDAQ:FSV opened at $183.15 on Friday. The stock has a fifty day simple moving average of $197.07 and a two-hundred day simple moving average of $182.92. The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of 58.70 and a beta of 0.99. FirstService Corporation has a 12-month low of $153.13 and a 12-month high of $209.66. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.99.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.26. FirstService had a return on equity of 18.24% and a net margin of 2.61%.The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the business earned $1.36 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, research analysts anticipate that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Tuesday, September 30th were issued a $0.275 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.10 annualized dividend and a dividend yield of 0.6%. FirstService’s payout ratio is presently 35.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. TD Securities reiterated a “hold” rating on shares of FirstService in a research report on Thursday, September 4th. Zacks Research lowered FirstService from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of FirstService in a research report on Wednesday. Wall Street Zen upgraded FirstService from a “hold” rating to a “buy” rating in a research report on Sunday, September 7th. Finally, Scotiabank lifted their price objective on FirstService from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 30th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $217.75.

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.