FirstService Corporation $FSV Stock Position Boosted by Royce & Associates LP

Royce & Associates LP lifted its holdings in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 18.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 553,941 shares of the financial services provider’s stock after purchasing an additional 87,513 shares during the quarter. FirstService comprises 0.6% of Royce & Associates LP’s holdings, making the stock its 15th biggest position. Royce & Associates LP owned approximately 1.32% of FirstService worth $70,838,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of FSV. Bessemer Group Inc. lifted its stake in FirstService by 52.2% in the first quarter. Bessemer Group Inc. now owns 191,970 shares of the financial services provider’s stock valued at $26,672,000 after buying an additional 65,830 shares in the last quarter. Bank of America Corp DE increased its position in shares of FirstService by 8.2% during the first quarter. Bank of America Corp DE now owns 240,316 shares of the financial services provider’s stock worth $33,390,000 after acquiring an additional 18,146 shares in the last quarter. Corient Private Wealth LP bought a new stake in shares of FirstService during the second quarter worth $885,000. Sei Investments Co. increased its position in shares of FirstService by 59.2% during the first quarter. Sei Investments Co. now owns 63,388 shares of the financial services provider’s stock worth $8,806,000 after acquiring an additional 23,577 shares in the last quarter. Finally, Fenimore Asset Management Inc raised its holdings in shares of FirstService by 6.9% during the third quarter. Fenimore Asset Management Inc now owns 130,824 shares of the financial services provider’s stock worth $16,730,000 after acquiring an additional 8,426 shares during the period. 69.35% of the stock is owned by institutional investors.

FirstService Stock Up 0.2%

Shares of FSV stock traded up $0.26 during trading on Friday, reaching $154.42. The company’s stock had a trading volume of 254,680 shares, compared to its average volume of 177,707. The business has a fifty day moving average price of $138.14 and a 200-day moving average price of $142.06. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.66. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 47.08, a price-to-earnings-growth ratio of 2.90 and a beta of 0.89. FirstService Corporation has a one year low of $119.41 and a one year high of $166.73.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, October 22nd. The financial services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.84 by $0.05. FirstService had a net margin of 2.59% and a return on equity of 19.66%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the company posted $1.76 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Analysts anticipate that FirstService Corporation will post 5.63 earnings per share for the current year.

FirstService Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.3050 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, September 30th. FirstService’s dividend payout ratio is currently 37.20%.

Analyst Upgrades and Downgrades

FSV has been the topic of several research reports. Canadian Imperial Bank of Commerce boosted their price objective on shares of FirstService from $170.00 to $178.00 and gave the company an “outperform” rating in a research report on Friday, October 23rd. TD Securities reiterated a “buy” rating and set a $195.00 target price on shares of FirstService in a report on Friday, July 24th. Scotia lifted their price target on FirstService from $170.00 to $175.00 and gave the company a “sector perform” rating in a research note on Friday, October 23rd. BMO Capital Markets restated an “outperform” rating and issued a $179.00 price target on shares of FirstService in a report on Friday, October 23rd. Finally, TD upped their price objective on FirstService from $195.00 to $203.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $179.82.

About FirstService

FirstService Corporation is a North American property services company operating through two primary businesses: FirstService Residential and FirstService Brands. The company serves residential communities and property owners in the United States and Canada. FirstService Residential provides property management services to condominium and homeowner associations, as well as other residential communities. Its services include day-to-day community operations, maintenance coordination, financial administration and support for boards and residents.