Montrusco Bolton Investments Inc. Purchases 72,665 Shares of FirstService Corporation $FSV

Montrusco Bolton Investments Inc. increased its position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 38.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 263,488 shares of the financial services provider’s stock after acquiring an additional 72,665 shares during the period. Montrusco Bolton Investments Inc. owned about 0.57% of FirstService worth $36,538,000 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. The Manufacturers Life Insurance Company lifted its stake in FirstService by 493.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,775,353 shares of the financial services provider’s stock worth $432,173,000 after purchasing an additional 2,307,684 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of FirstService by 18,366.1% in the 4th quarter. Wellington Management Group LLP now owns 719,993 shares of the financial services provider’s stock valued at $111,981,000 after purchasing an additional 716,094 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of FirstService by 73.6% during the 4th quarter. Janus Henderson Group PLC now owns 1,367,564 shares of the financial services provider’s stock worth $212,698,000 after buying an additional 579,615 shares in the last quarter. Norges Bank acquired a new position in shares of FirstService during the 4th quarter worth $85,597,000. Finally, Orbis Allan Gray Ltd lifted its position 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 worth $308,677,000 after buying an additional 530,489 shares during the last quarter. 69.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FSV has been the topic of several research analyst reports. TD raised their price objective on FirstService from $201.00 to $204.00 and gave the company a “buy” rating 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. TD Securities set a $204.00 price target on shares of FirstService in a research note on Friday, April 24th. Weiss Ratings lowered shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Finally, Loop Capital began coverage on shares of FirstService in a research report on Monday, May 4th. They set a “hold” rating and a $140.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, FirstService currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.56.

FirstService Price Performance

Shares of NASDAQ FSV opened at $145.74 on Friday. The company has a 50 day simple moving average of $137.05 and a 200 day simple moving average of $146.61. The firm has a market cap of $6.70 billion, a PE ratio of 41.17, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. FirstService Corporation has a 1 year low of $119.41 and a 1 year high of $209.66. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.66 and a quick ratio of 1.66.

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

FirstService Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th will be paid a $0.305 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. FirstService’s 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.