Janus Henderson Group PLC Purchases New Position in FirstService Corp (FSV)
Janus Henderson Group PLC purchased a new position in shares of FirstService Corp (NASDAQ:FSV) (TSE:FSV) during the third quarter, HoldingsChannel reports. The institutional investor purchased 241,402 shares of the financial services provider’s stock, valued at approximately $20,437,000.
Several other institutional investors have also modified their holdings of the business. CIBC Asset Management Inc raised its position in shares of FirstService by 49.4% in the 2nd quarter. CIBC Asset Management Inc now owns 573,450 shares of the financial services provider’s stock worth $43,624,000 after buying an additional 189,523 shares during the period. Cumberland Partners Ltd purchased a new position in shares of FirstService in the 2nd quarter worth $8,913,000. American Century Companies Inc. raised its position in shares of FirstService by 32.0% in the 3rd quarter. American Century Companies Inc. now owns 211,429 shares of the financial services provider’s stock worth $17,863,000 after buying an additional 51,228 shares during the period. Van Berkom & Associates Inc. raised its position in shares of FirstService by 3.9% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,060,076 shares of the financial services provider’s stock worth $80,496,000 after buying an additional 39,629 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of FirstService by 33.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 147,892 shares of the financial services provider’s stock worth $11,242,000 after buying an additional 37,400 shares during the period. 67.40% of the stock is currently owned by institutional investors.
NASDAQ:FSV opened at $75.93 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.44 and a current ratio of 1.44. FirstService Corp has a 12 month low of $62.90 and a 12 month high of $90.21. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 36.67 and a beta of 0.76.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 8th. Stockholders of record on Monday, December 31st will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $0.54 annualized dividend and a dividend yield of 0.71%. FirstService’s dividend payout ratio is presently 26.60%.
Several research firms have commented on FSV. BMO Capital Markets reissued a “hold” rating and issued a $83.00 price objective on shares of FirstService in a research report on Wednesday, October 24th. BidaskClub lowered FirstService from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, Zacks Investment Research raised FirstService from a “sell” rating to a “hold” rating in a research report on Tuesday, November 6th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $82.75.
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FirstService Company Profile
FirstService Corporation provides property services to residential and commercial customers in the United States and Canada. The company operates through two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment manages private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.
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