Janus Henderson Group PLC Buys 219,890 Shares of FirstService Corporation $FSV

Janus Henderson Group PLC boosted its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 16.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,587,454 shares of the financial services provider’s stock after purchasing an additional 219,890 shares during the period. Janus Henderson Group PLC’s holdings in FirstService were worth $220,560,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FSV. Goldman Sachs Group Inc. grew its holdings in FirstService by 79.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider’s stock valued at $52,880,000 after buying an additional 141,152 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of FirstService by 40.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,389 shares of the financial services provider’s stock valued at $9,856,000 after buying an additional 17,072 shares in the last quarter. Strs Ohio bought a new stake in FirstService during the first quarter worth about $38,000. Cetera Investment Advisers boosted its stake in FirstService by 55.3% in the second quarter. Cetera Investment Advisers now owns 2,599 shares of the financial services provider’s stock worth $454,000 after buying an additional 925 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of FirstService by 400.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 292 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FSV. TD raised their target price on shares of FirstService from $204.00 to $207.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. TD Cowen reissued a “buy” rating and issued a $204.00 target price on shares of FirstService in a research report on Wednesday, June 3rd. Weiss Ratings lowered shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Wall Street Zen upgraded FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, TD Securities reaffirmed a “buy” rating and issued a $195.00 target price on shares of FirstService in a report on Friday, July 24th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $184.20.

FirstService Price Performance

NASDAQ:FSV opened at $144.57 on Friday. The business’s 50-day simple moving average is $140.42 and its two-hundred day simple moving average is $144.95. The stock has a market cap of $6.64 billion, a PE ratio of 40.95, a P/E/G ratio of 3.15 and a beta of 0.94. FirstService Corporation has a 52 week low of $119.41 and a 52 week high of $209.66. The company has a quick ratio of 1.66, a current ratio of 1.58 and a debt-to-equity ratio of 1.03.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.71 by $0.04. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.44 billion. FirstService had a net margin of 2.88% and a return on equity of 18.07%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.71 EPS. As a group, analysts forecast that FirstService Corporation will post 5.62 EPS for the current fiscal year.

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, June 30th. FirstService’s payout ratio is 34.56%.

FirstService Company 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.