ArrowMark Colorado Holdings LLC raised its holdings in FirstService Corp (NASDAQ:FSV) (TSE:FSV) by 15.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 189,800 shares of the financial services provider’s stock after purchasing an additional 24,938 shares during the period. ArrowMark Colorado Holdings LLC owned 0.53% of FirstService worth $13,271,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Neuberger Berman Group LLC lifted its holdings in shares of FirstService by 33.9% in the third quarter. Neuberger Berman Group LLC now owns 1,036,806 shares of the financial services provider’s stock valued at $68,139,000 after purchasing an additional 262,481 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of FirstService by 0.9% during the fourth quarter. Renaissance Technologies LLC now owns 800,800 shares of the financial services provider’s stock valued at $55,992,000 after buying an additional 7,200 shares during the period. Montrusco Bolton Investments Inc. lifted its stake in shares of FirstService by 7.6% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 612,719 shares of the financial services provider’s stock valued at $43,000,000 after buying an additional 43,482 shares during the period. Picton Mahoney Asset Management purchased a new position in shares of FirstService during the fourth quarter valued at approximately $36,895,000. Finally, American Century Companies Inc. lifted its stake in shares of FirstService by 31.7% during the third quarter. American Century Companies Inc. now owns 309,469 shares of the financial services provider’s stock valued at $20,335,000 after buying an additional 74,426 shares during the period. 63.30% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on FSV. BidaskClub raised shares of FirstService from a “sell” rating to a “hold” rating in a research note on Thursday, March 22nd. Zacks Investment Research raised shares of FirstService from a “strong sell” rating to a “buy” rating and set a $77.00 price objective on the stock in a research note on Tuesday, February 13th. Finally, Royal Bank of Canada upped their price objective on shares of FirstService from $75.00 to $78.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $69.20.
FSV stock traded down $1.69 on Monday, hitting $71.49. 31,465 shares of the company were exchanged, compared to its average volume of 39,091. FirstService Corp has a twelve month low of $57.17 and a twelve month high of $74.49. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market capitalization of $2,531.55, a price-to-earnings ratio of 36.05 and a beta of 0.47.
FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. FirstService had a net margin of 3.11% and a return on equity of 29.64%. The firm had revenue of $438.10 million during the quarter, compared to analyst estimates of $416.13 million. During the same quarter in the prior year, the business posted $0.41 earnings per share. FirstService’s revenue for the quarter was up 15.0% compared to the same quarter last year. equities analysts forecast that FirstService Corp will post 2.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Thursday, March 29th will be given a dividend of $0.135 per share. This is a positive change from FirstService’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.54 annualized dividend and a yield of 0.76%. FirstService’s dividend payout ratio is 26.60%.
FirstService Corp. engages in the provision of property services. It operates through the FirstService Residential, and FirstService Brands segments. The FirstService Residential segment offers property management services in North America. The FirstService Brands segment covers residential and commercial customers through both franchise systems, and company-owned operations.
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