Cibc World Market Inc. Buys 53,354 Shares of FirstService Corporation $FSV

Cibc World Market Inc. raised its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 507,243 shares of the financial services provider’s stock after purchasing an additional 53,354 shares during the period. Cibc World Market Inc.’s holdings in FirstService were worth $78,892,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. M&T Bank Corp bought a new stake in FirstService in the fourth quarter valued at $6,120,000. Captrust Financial Advisors grew its holdings in shares of FirstService by 3.0% during the third quarter. Captrust Financial Advisors now owns 247,931 shares of the financial services provider’s stock valued at $47,228,000 after buying an additional 7,136 shares during the last quarter. UBS Group AG grew its holdings in shares of FirstService by 40.5% during the fourth quarter. UBS Group AG now owns 174,467 shares of the financial services provider’s stock valued at $27,135,000 after buying an additional 50,263 shares during the last quarter. Louisbourg Investments Inc. acquired a new position in shares of FirstService during the fourth quarter valued at about $3,837,000. Finally, Jacobson & Schmitt Advisors LLC grew its holdings in shares of FirstService by 52.4% during the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 144,994 shares of the financial services provider’s stock valued at $22,551,000 after buying an additional 49,829 shares during the last quarter. 69.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FSV. Scotiabank reduced their price objective on shares of FirstService from $205.00 to $190.00 and set a “sector outperform” rating for the company in a report on Friday, April 24th. Weiss Ratings cut shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 29th. TD Securities set a $204.00 price objective on shares of FirstService in a report on Friday, April 24th. Stifel Nicolaus reduced their price objective on shares of FirstService from $215.00 to $200.00 and set a “buy” rating for the company in a report on Monday, April 27th. Finally, TD lifted their price objective on shares of FirstService from $201.00 to $204.00 and gave the company a “buy” rating in a report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $197.22.

FirstService Stock Down 0.7%

FirstService stock opened at $137.27 on Thursday. FirstService Corporation has a fifty-two week low of $119.41 and a fifty-two week high of $209.66. The stock has a market cap of $6.31 billion, a PE ratio of 38.78, a price-to-earnings-growth ratio of 4.20 and a beta of 0.95. The firm’s 50-day simple moving average is $138.46 and its 200 day simple moving average is $148.61. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.66 and a current ratio of 1.66.

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

FirstService Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.305 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.22 annualized dividend and a yield of 0.9%. FirstService’s payout ratio is 34.46%.

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.