William Blair Investment Management LLC Raises Stock Holdings in FirstService Corporation $FSV

William Blair Investment Management LLC lifted its holdings in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 19.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 596,249 shares of the financial services provider’s stock after buying an additional 98,808 shares during the quarter. William Blair Investment Management LLC owned approximately 1.30% of FirstService worth $92,735,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Truist Financial Corp raised its holdings in shares of FirstService by 0.9% in the fourth quarter. Truist Financial Corp now owns 8,894 shares of the financial services provider’s stock worth $1,383,000 after buying an additional 77 shares during the period. Evergreen Capital Management LLC increased its holdings in FirstService by 5.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,462 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 77 shares during the period. Geneos Wealth Management Inc. increased its holdings in FirstService by 63.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 79 shares during the period. Parr Mcknight Wealth Management Group LLC increased its holdings in FirstService by 1.1% during the 3rd quarter. Parr Mcknight Wealth Management Group LLC now owns 7,583 shares of the financial services provider’s stock worth $1,444,000 after purchasing an additional 81 shares during the period. Finally, Pathstone Holdings LLC increased its holdings in FirstService by 0.5% during the 3rd quarter. Pathstone Holdings LLC now owns 17,021 shares of the financial services provider’s stock worth $3,242,000 after purchasing an additional 92 shares during the period. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FSV has been the topic of several research reports. Scotiabank reduced their price objective on FirstService from $205.00 to $190.00 and set a “sector outperform” rating on the stock in a report on Friday, April 24th. TD Securities set a $204.00 price objective on FirstService in a research report on Friday, April 24th. Loop Capital started coverage on FirstService in a research note on Monday, May 4th. They issued a “hold” rating and a $140.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of FirstService in a research note on Friday, March 27th. Finally, Stifel Nicolaus reduced their target price on FirstService from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.89.

FirstService Stock Performance

NASDAQ FSV opened at $131.66 on Friday. The stock has a 50-day simple moving average of $139.18 and a two-hundred day simple moving average of $149.75. The firm has a market capitalization of $6.05 billion, a P/E ratio of 37.19, a PEG ratio of 4.00 and a beta of 0.97. FirstService Corporation has a fifty-two week low of $119.41 and a fifty-two week high of $209.66. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.66 and a current ratio of 1.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. FirstService had a return on equity of 17.91% and a net margin of 2.92%.The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $0.92 EPS. On average, equities analysts forecast that FirstService Corporation will post 5.54 earnings per share for the current year.

FirstService Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.305 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.9%. FirstService’s dividend payout ratio (DPR) is presently 34.46%.

FirstService 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.