Legal & General Group Plc Has $32.04 Million Holdings in FirstService Corporation $FSV

Legal & General Group Plc raised its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 11.5% in the second quarter, Holdings Channel.com reports. The firm owned 183,986 shares of the financial services provider’s stock after buying an additional 18,989 shares during the period. Legal & General Group Plc’s holdings in FirstService were worth $32,043,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. TCTC Holdings LLC boosted its position in shares of FirstService by 155.2% during the first quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider’s stock valued at $28,000 after buying an additional 104 shares during the last quarter. Strs Ohio bought a new position in FirstService during the 1st quarter valued at $38,000. SVB Wealth LLC purchased a new position in FirstService during the 1st quarter worth $90,000. State of Wyoming boosted its holdings in FirstService by 11.1% during the 1st quarter. State of Wyoming now owns 621 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 62 shares during the last quarter. Finally, Hardy Reed LLC bought a new stake in shares of FirstService in the 2nd quarter worth $216,000. 69.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FSV. Wall Street Zen lowered shares of FirstService from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. TD Securities dropped their target price on shares of FirstService from $213.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of FirstService in a report on Tuesday. Scotiabank upgraded FirstService from a “sector perform” rating to a “sector outperform” rating and dropped their price target for the stock from $220.00 to $205.00 in a report on Friday, October 24th. Finally, CIBC cut their price objective on FirstService from $225.00 to $216.00 and set an “outperform” rating on the stock in a research report on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.83.

FirstService Price Performance

FirstService stock opened at $153.73 on Thursday. The business’s 50 day simple moving average is $172.12 and its 200 day simple moving average is $181.39. FirstService Corporation has a 12 month low of $149.13 and a 12 month high of $209.66. The company has a market cap of $7.03 billion, a price-to-earnings ratio of 50.90 and a beta of 0.99. The company has a current ratio of 1.73, a quick ratio of 1.76 and a debt-to-equity ratio of 0.90.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.76. FirstService had a return on equity of 17.98% and a net margin of 2.53%.The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the company posted $1.63 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. Sell-side analysts forecast that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.10 annualized dividend and a yield of 0.7%. FirstService’s dividend payout ratio is 36.42%.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.