Mackenzie Financial Corp Purchases 75,712 Shares of FirstService Corporation $FSV

Mackenzie Financial Corp boosted its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 5.1% during the third quarter, HoldingsChannel.com reports. The fund owned 1,551,175 shares of the financial services provider’s stock after buying an additional 75,712 shares during the quarter. Mackenzie Financial Corp’s holdings in FirstService were worth $295,481,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FSV. Geneos Wealth Management Inc. boosted its holdings in shares of FirstService by 63.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 79 shares in the last quarter. Strs Ohio bought a new stake in shares of FirstService during the 1st quarter worth $38,000. EverSource Wealth Advisors LLC boosted its stake in FirstService by 400.0% in the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock valued at $64,000 after buying an additional 292 shares in the last quarter. Spire Wealth Management boosted its stake in FirstService by 300.0% in the third quarter. Spire Wealth Management now owns 400 shares of the financial services provider’s stock valued at $76,000 after buying an additional 300 shares in the last quarter. Finally, Trust Co. of Vermont grew its position in FirstService by 70.6% in the third quarter. Trust Co. of Vermont now owns 435 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 180 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

FirstService Stock Performance

NASDAQ FSV opened at $149.52 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 47.32, a PEG ratio of 4.03 and a beta of 1.05. FirstService Corporation has a 1 year low of $144.49 and a 1 year high of $209.66. The company has a fifty day moving average price of $156.60 and a 200-day moving average price of $167.55.

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

FirstService Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Tuesday, March 31st will be issued a $0.305 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This is an increase from FirstService’s previous quarterly dividend of $0.28. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. FirstService’s payout ratio is currently 34.81%.

Wall Street Analysts Forecast Growth

FSV has been the topic of a number of research reports. TD Securities reaffirmed a “buy” rating and set a $217.00 target price on shares of FirstService in a research note on Thursday, February 5th. BMO Capital Markets restated an “outperform” rating and set a $202.00 price objective on shares of FirstService in a research report on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of FirstService in a report on Monday, December 22nd. Finally, Wall Street Zen raised shares of FirstService from a “hold” rating to a “buy” rating in a research note on Saturday. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.67.

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.