FirstService Corporation $FSV Shares Acquired by Louisbourg Investments Inc.

Louisbourg Investments Inc. raised its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 23.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,387 shares of the financial services provider’s stock after buying an additional 5,747 shares during the period. Louisbourg Investments Inc.’s holdings in FirstService were worth $4,219,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in shares of FirstService by 493.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,775,353 shares of the financial services provider’s stock valued at $432,173,000 after purchasing an additional 2,307,684 shares in the last quarter. Durable Capital Partners LP increased its stake in FirstService by 12.9% in the third quarter. Durable Capital Partners LP now owns 2,216,720 shares of the financial services provider’s stock valued at $422,263,000 after purchasing an additional 253,155 shares during the last quarter. Orbis Allan Gray Ltd increased its stake in shares of FirstService by 36.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 1,984,677 shares of the financial services provider’s stock valued at $308,677,000 after acquiring an additional 530,489 shares during the last quarter. Vanguard Group Inc. raised its stake in FirstService by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 1,954,819 shares of the financial services provider’s stock worth $304,000,000 after purchasing an additional 29,805 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in FirstService by 15.5% in the fourth quarter. Mackenzie Financial Corp now owns 1,791,116 shares of the financial services provider’s stock valued at $278,247,000 after acquiring an additional 239,941 shares during the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FSV shares. Stifel Nicolaus decreased their price objective on shares of FirstService from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, April 27th. TD raised their price target 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. Scotiabank decreased their price target on FirstService from $205.00 to $190.00 and set a “sector outperform” rating for the company in a research note on Friday, April 24th. Wall Street Zen raised shares of FirstService from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Weiss Ratings lowered FirstService from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, FirstService currently has an average rating of “Moderate Buy” and a consensus target price of $197.22.

FirstService Stock Performance

Shares of FSV stock opened at $140.85 on Friday. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of 39.79, a P/E/G ratio of 4.28 and a beta of 0.95. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.74. FirstService Corporation has a 1-year low of $119.41 and a 1-year high of $209.66. The stock’s fifty day simple moving average is $137.63 and its 200-day simple moving average is $146.90.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the company posted $0.92 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts predict that FirstService Corporation will post 5.54 earnings per share for the current fiscal 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. This represents a $1.22 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. FirstService’s dividend payout ratio is 34.46%.

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.