Vanguard Group Inc. increased its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 749,623 shares of the financial services provider’s stock after purchasing an additional 19,704 shares during the period. Vanguard Group Inc. owned approximately 2.09% of FirstService Corporation worth $47,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of FSV. Parametric Portfolio Associates LLC raised its holdings in shares of FirstService Corporation by 10.3% during the first quarter. Parametric Portfolio Associates LLC now owns 7,853 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 733 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of FirstService Corporation by 4.2% during the first quarter. JPMorgan Chase & Co. now owns 4,860 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 195 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of FirstService Corporation by 7.4% during the first quarter. Alliancebernstein L.P. now owns 19,970 shares of the financial services provider’s stock worth $1,204,000 after purchasing an additional 1,380 shares during the last quarter. FMR LLC raised its holdings in shares of FirstService Corporation by 54.8% during the first quarter. FMR LLC now owns 46,079 shares of the financial services provider’s stock worth $2,786,000 after purchasing an additional 16,313 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of FirstService Corporation by 37.7% during the first quarter. Legal & General Group Plc now owns 3,289 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 900 shares during the last quarter. 59.22% of the stock is owned by hedge funds and other institutional investors.

Shares of FirstService Corporation (FSV) opened at $68.53 on Friday. The company has a market cap of $2,372.10, a price-to-earnings ratio of 55.27 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.51. FirstService Corporation has a 52-week low of $39.85 and a 52-week high of $74.49.

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.24. FirstService Corporation had a net margin of 2.74% and a return on equity of 24.16%. The company had revenue of $456.50 million for the quarter, compared to analyst estimates of $449.26 million. During the same quarter last year, the business earned $0.62 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. equities analysts expect that FirstService Corporation will post 1.93 EPS for the current year.

FirstService Corporation announced that its Board of Directors has initiated a stock buyback plan on Thursday, August 17th that authorizes the company to repurchase 3,100,000 outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 29th were given a $0.1225 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.49 annualized dividend and a dividend yield of 0.72%. FirstService Corporation’s dividend payout ratio (DPR) is 39.52%.

Several research analysts recently issued reports on the stock. Raymond James Financial, Inc. raised their target price on shares of FirstService Corporation from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 27th. TheStreet upgraded shares of FirstService Corporation from a “c” rating to a “b-” rating in a research report on Wednesday, July 26th. Royal Bank Of Canada restated a “buy” rating and set a $71.00 price target on shares of FirstService Corporation in a research report on Wednesday, September 27th. Zacks Investment Research lowered shares of FirstService Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, BidaskClub upgraded shares of FirstService Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. Six research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. FirstService Corporation has an average rating of “Hold” and a consensus target price of $69.20.

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FirstService Corporation Company Profile

Firstservice Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company operates through two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides ancillary services in the areas of on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel, and landscaping; banking and insurance products, and energy conservation and management solutions.

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Institutional Ownership by Quarter for FirstService Corporation (NASDAQ:FSV)

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