Mufg Securities Canada LTD. Has $9.74 Million Position in FirstService Corporation $FSV

Mufg Securities Canada LTD. reduced its position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,642 shares of the financial services provider’s stock after selling 5,198 shares during the period. Mufg Securities Canada LTD. owned approximately 0.14% of FirstService worth $9,744,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new stake in FirstService during the 3rd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd lifted its holdings in FirstService by 88.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 81 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in FirstService by 63.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 79 shares during the period. Kestra Advisory Services LLC bought a new position in FirstService during the 4th quarter worth $34,000. Finally, Strs Ohio bought a new position in FirstService during the 1st quarter worth $38,000. 69.35% of the stock is owned by institutional investors and hedge funds.

FirstService Stock Performance

Shares of FSV opened at $143.36 on Monday. FirstService Corporation has a 52-week low of $119.41 and a 52-week high of $209.66. The business’s fifty day moving average is $139.06 and its 200-day moving average is $148.05. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 40.50, a PEG ratio of 4.35 and a beta of 0.95.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. FirstService had a return on equity of 17.91% and a net margin of 2.92%.The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the company posted $0.92 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts anticipate that FirstService Corporation will post 5.54 EPS for the current fiscal year.

FirstService Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 30th will be paid a $0.305 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.22 annualized dividend and a dividend yield of 0.9%. FirstService’s dividend payout ratio (DPR) is presently 34.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FSV shares. Scotiabank lowered their price objective on FirstService from $205.00 to $190.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 24th. TD Securities set a $204.00 price objective on FirstService in a research note on Friday, April 24th. Stifel Nicolaus lowered their price objective on FirstService from $215.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. TD Cowen restated a “buy” rating and set a $204.00 price objective on shares of FirstService in a research note on Wednesday, June 3rd. Finally, TD raised their price objective on FirstService from $201.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $197.22.

About FirstService

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.