FirstService Corporation $FSV Holdings Increased by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. raised its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 1,487.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,475 shares of the financial services provider’s stock after purchasing an additional 41,674 shares during the period. ZWJ Investment Counsel Inc. owned 0.10% of FirstService worth $5,687,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its holdings in shares of FirstService by 73.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 302 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 128 shares during the period. Fifth Third Bancorp raised its position in shares of FirstService by 23.7% in the first quarter. Fifth Third Bancorp now owns 627 shares of the financial services provider’s stock worth $87,000 after buying an additional 120 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of FirstService by 796.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the financial services provider’s stock worth $128,000 after buying an additional 733 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of FirstService in the second quarter worth $220,000. Finally, Hardy Reed LLC bought a new stake in FirstService during the first quarter valued at $216,000. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FSV has been the subject of several recent analyst reports. Scotiabank set a $170.00 target price on FirstService in a research report on Friday, July 24th. TD upped their target price on FirstService from $204.00 to $207.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $175.00 price target on shares of FirstService in a report on Friday, July 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $144.00 price target on shares of FirstService in a report on Friday, July 24th. Finally, Wall Street Zen downgraded FirstService from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, FirstService has an average rating of “Moderate Buy” and an average price target of $184.20.

FirstService Stock Performance

NASDAQ:FSV opened at $130.65 on Thursday. The business has a 50 day moving average of $136.28 and a 200 day moving average of $138.74. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 37.01, a PEG ratio of 2.90 and a beta of 0.95. FirstService Corporation has a 1-year low of $119.41 and a 1-year high of $189.05. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.63 and a quick ratio of 1.63.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.04. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.44 billion. FirstService had a return on equity of 18.07% and a net margin of 2.88%. FirstService’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.71 earnings per share. On average, sell-side analysts predict that FirstService Corporation will post 5.61 earnings per share for the current fiscal year.

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 30th were paid a $0.3050 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.9%. FirstService’s dividend payout ratio is 34.56%.

FirstService Company Profile

FirstService Corporation is a North American property services company headquartered in Toronto, Canada. The company provides services to residential and commercial properties through two primary business segments: FirstService Residential and FirstService Brands.

FirstService Residential provides property management and related services for condominium, cooperative, homeowners’ association and other residential communities. Its services include community administration, financial management, maintenance coordination, customer support and project management.