UBS Group AG Acquires 50,263 Shares of FirstService Corporation $FSV

UBS Group AG boosted its holdings in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 40.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 174,467 shares of the financial services provider’s stock after acquiring an additional 50,263 shares during the quarter. UBS Group AG’s holdings in FirstService were worth $27,135,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Durable Capital Partners LP lifted its position in FirstService by 12.9% in the 3rd quarter. Durable Capital Partners LP now owns 2,216,720 shares of the financial services provider’s stock valued at $422,263,000 after acquiring an additional 253,155 shares in the last quarter. Vanguard Group Inc. lifted its position in FirstService by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 1,954,819 shares of the financial services provider’s stock valued at $304,000,000 after acquiring an additional 29,805 shares in the last quarter. Mackenzie Financial Corp lifted its position in FirstService by 5.1% in the 3rd quarter. Mackenzie Financial Corp now owns 1,551,175 shares of the financial services provider’s stock valued at $295,481,000 after acquiring an additional 75,712 shares in the last quarter. Orbis Allan Gray Ltd lifted its position in shares of FirstService by 0.5% during the 2nd quarter. Orbis Allan Gray Ltd now owns 1,423,870 shares of the financial services provider’s stock worth $248,636,000 after buying an additional 6,680 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of FirstService by 2.3% during the 3rd quarter. Franklin Resources Inc. now owns 600,155 shares of the financial services provider’s stock worth $114,323,000 after buying an additional 13,264 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.

FirstService Trading Up 0.1%

Shares of FSV stock opened at $134.56 on Friday. The company has a 50 day moving average of $143.87 and a 200-day moving average of $152.48. The company has a quick ratio of 1.73, a current ratio of 1.66 and a debt-to-equity ratio of 0.74. FirstService Corporation has a 12-month low of $124.37 and a 12-month high of $209.66. The firm has a market cap of $6.19 billion, a P/E ratio of 38.01, a PEG ratio of 4.09 and a beta of 0.97.

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, topping the consensus estimate of $0.89 by $0.06. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the business posted $0.92 EPS. FirstService’s quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that FirstService Corporation will post 5.54 earnings per share for the current year.

FirstService Announces Dividend

The business 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 dividend of $0.305 per share. 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

FSV has been the topic of several recent analyst reports. TD Cowen dropped their target price on shares of FirstService from $217.00 to $201.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. TD lifted their target price on shares of FirstService from $201.00 to $204.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Wall Street Zen raised shares of FirstService from a “hold” rating to a “buy” rating in a research report on Saturday. Stifel Nicolaus dropped their target price on shares of FirstService from $215.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of FirstService in a research report on Friday, March 27th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $196.89.

FirstService Company 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.