Lincluden Management Ltd. Boosts Stock Position in FirstService Corporation $FSV

Lincluden Management Ltd. boosted its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 14.2% in the 4th quarter, HoldingsChannel reports. The fund owned 46,898 shares of the financial services provider’s stock after buying an additional 5,818 shares during the quarter. FirstService accounts for 0.8% of Lincluden Management Ltd.’s portfolio, making the stock its 26th biggest position. Lincluden Management Ltd.’s holdings in FirstService were worth $7,294,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. M&T Bank Corp purchased a new stake in FirstService during the 4th quarter valued at about $6,120,000. Captrust Financial Advisors boosted its holdings in FirstService by 3.0% during the 3rd quarter. Captrust Financial Advisors now owns 247,931 shares of the financial services provider’s stock valued at $47,228,000 after acquiring an additional 7,136 shares during the period. Fenimore Asset Management Inc boosted its holdings in FirstService by 44.1% during the 3rd quarter. Fenimore Asset Management Inc now owns 144,633 shares of the financial services provider’s stock valued at $27,551,000 after acquiring an additional 44,272 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in FirstService by 68.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 15,738 shares of the financial services provider’s stock valued at $2,998,000 after acquiring an additional 6,394 shares during the period. Finally, Louisbourg Investments Inc. purchased a new stake in FirstService during the 4th quarter valued at about $3,837,000. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FSV shares. BMO Capital Markets restated an “outperform” rating and set a $202.00 target price on shares of FirstService in a report on Thursday, February 5th. Weiss Ratings restated a “hold (c)” rating on shares of FirstService in a report on Friday, March 27th. TD Securities set a $204.00 target price on FirstService in a report on Friday. Scotiabank dropped their target price on FirstService from $205.00 to $190.00 and set a “sector outperform” rating for the company in a report on Friday, April 24th. Finally, TD upped their price target on FirstService from $201.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.00.

FirstService Trading Down 2.6%

FSV opened at $143.02 on Wednesday. The business has a 50 day simple moving average of $146.17 and a two-hundred day simple moving average of $154.31. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 40.40, a PEG ratio of 4.32 and a beta of 1.09. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.62 and a quick ratio of 1.73. FirstService Corporation has a one year low of $133.42 and a one year high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. FirstService had a return on equity of 16.45% and a net margin of 2.92%.FirstService’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 EPS. Analysts predict that FirstService Corporation will post 5.73 EPS for the current year.

FirstService Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 7th. Stockholders of record on Tuesday, March 31st were given a $0.305 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.22 annualized dividend and a dividend yield of 0.9%. This is an increase from FirstService’s previous quarterly dividend of $0.28. FirstService’s dividend payout ratio is currently 34.46%.

FirstService Profile

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.