TD Asset Management Inc Purchases 8,691 Shares of FirstService Corporation $FSV

TD Asset Management Inc boosted its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 287,971 shares of the financial services provider’s stock after buying an additional 8,691 shares during the quarter. TD Asset Management Inc’s holdings in FirstService were worth $54,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in FSV. Vanguard Group Inc. boosted its stake in shares of FirstService by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,925,014 shares of the financial services provider’s stock valued at $366,773,000 after purchasing an additional 65,926 shares in the last quarter. Mackenzie Financial Corp lifted its stake in FirstService by 100.8% in the second quarter. Mackenzie Financial Corp now owns 1,475,463 shares of the financial services provider’s stock worth $257,634,000 after purchasing an additional 740,583 shares during the last quarter. Orbis Allan Gray Ltd lifted its stake in FirstService by 0.5% in the second quarter. Orbis Allan Gray Ltd now owns 1,423,870 shares of the financial services provider’s stock worth $248,636,000 after purchasing an additional 6,680 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of FirstService by 8.8% during the second quarter. Franklin Resources Inc. now owns 586,891 shares of the financial services provider’s stock valued at $102,482,000 after buying an additional 47,696 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of FirstService in the second quarter worth about $93,904,000. 69.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. TD Securities reiterated a “buy” rating and issued a $217.00 price objective on shares of FirstService in a research report on Thursday, February 5th. BMO Capital Markets reiterated an “outperform” rating and set a $202.00 price target on shares of FirstService in a report on Thursday, February 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of FirstService in a report on Monday, December 22nd. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.67.

FirstService Stock Performance

FirstService stock opened at $158.31 on Friday. FirstService Corporation has a fifty-two week low of $147.23 and a fifty-two week high of $209.66. The stock’s 50 day simple moving average is $157.19 and its two-hundred day simple moving average is $170.55. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 1.73. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 50.10, a PEG ratio of 4.16 and a beta of 1.06.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Wednesday, February 4th. The financial services provider reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. FirstService had a return on equity of 18.69% and a net margin of 2.64%.The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the business posted $1.34 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, analysts expect that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.305 per share. This is a boost from FirstService’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, March 31st. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.8%. FirstService’s dividend payout ratio (DPR) is presently 34.81%.

About FirstService

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.