Picton Mahoney Asset Management Buys 9,359 Shares of FirstService Corporation $FSV

Picton Mahoney Asset Management grew its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 331,730 shares of the financial services provider’s stock after acquiring an additional 9,359 shares during the quarter. FirstService comprises about 0.6% of Picton Mahoney Asset Management’s portfolio, making the stock its 28th biggest position. Picton Mahoney Asset Management’s holdings in FirstService were worth $63,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its position in FirstService by 63.7% during the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 79 shares in the last quarter. Strs Ohio purchased a new stake in shares of FirstService during the first quarter valued at about $38,000. EverSource Wealth Advisors LLC boosted its holdings 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 buying an additional 292 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of FirstService by 300.0% in the 3rd quarter. Spire Wealth Management now owns 400 shares of the financial services provider’s stock valued at $76,000 after buying an additional 300 shares in the last quarter. Finally, Trust Co. of Vermont grew its position in shares of FirstService by 70.6% in the 3rd quarter. Trust Co. of Vermont now owns 435 shares of the financial services provider’s stock worth $83,000 after buying an additional 180 shares during the last quarter. 69.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. TD Securities reissued a “buy” rating and set a $217.00 target price on shares of FirstService in a research report on Thursday, February 5th. BMO Capital Markets reaffirmed an “outperform” rating and set a $202.00 price target on shares of FirstService in a research report on Thursday, February 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of FirstService in a research report on Monday, December 22nd. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.67.

FirstService Trading Down 1.0%

Shares of FirstService stock opened at $153.92 on Wednesday. The firm’s 50 day simple moving average is $157.27 and its two-hundred day simple moving average is $169.28. The firm has a market capitalization of $7.04 billion, a price-to-earnings ratio of 48.71, a PEG ratio of 4.17 and a beta of 1.05. FirstService Corporation has a 12-month low of $147.23 and a 12-month high of $209.66. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.79.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $1.37 EPS for the quarter, topping the consensus estimate of $1.32 by $0.05. FirstService had a net margin of 2.64% and a return on equity of 18.69%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm posted $1.34 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts predict that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, March 31st. This is a boost from FirstService’s previous quarterly dividend of $0.28. FirstService’s dividend payout ratio (DPR) is presently 34.81%.

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.