Royal Bank of Canada raised its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 315,431 shares of the financial services provider’s stock after purchasing an additional 1,907 shares during the period. Royal Bank of Canada owned 0.88% of FirstService Corporation worth $20,182,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. William Blair Investment Management LLC lifted its stake in shares of FirstService Corporation by 4.5% in the second quarter. William Blair Investment Management LLC now owns 1,498,197 shares of the financial services provider’s stock worth $95,855,000 after buying an additional 64,340 shares in the last quarter. Van Berkom & Associates Inc. lifted its stake in shares of FirstService Corporation by 1.1% in the second quarter. Van Berkom & Associates Inc. now owns 1,210,543 shares of the financial services provider’s stock worth $77,621,000 after buying an additional 13,000 shares in the last quarter. Fiera Capital Corp lifted its stake in shares of FirstService Corporation by 43.6% in the second quarter. Fiera Capital Corp now owns 1,176,304 shares of the financial services provider’s stock worth $75,345,000 after buying an additional 357,370 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of FirstService Corporation by 26.7% in the first quarter. Renaissance Technologies LLC now owns 813,200 shares of the financial services provider’s stock worth $49,043,000 after buying an additional 171,600 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in shares of FirstService Corporation by 3.4% in the second quarter. Neuberger Berman Group LLC now owns 774,325 shares of the financial services provider’s stock worth $49,541,000 after buying an additional 25,445 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.
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FSV has been the topic of several research reports. William Blair downgraded shares of FirstService Corporation from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 13th. BidaskClub downgraded shares of FirstService Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Zacks Investment Research raised shares of FirstService Corporation from a “hold” rating to a “strong-buy” rating and set a $73.00 target price on the stock in a research note on Wednesday, August 2nd. TheStreet raised shares of FirstService Corporation from a “c” rating to a “b-” rating in a research note on Wednesday, July 26th. Finally, Royal Bank Of Canada lifted their target price on shares of FirstService Corporation from $65.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $67.00.
Shares of FirstService Corporation (NASDAQ FSV) opened at 71.25 on Thursday. The firm has a market capitalization of $2.56 billion, a PE ratio of 57.00 and a beta of 0.85. The firm’s 50 day moving average is $67.04 and its 200-day moving average is $67.04. FirstService Corporation has a 12 month low of $39.05 and a 12 month high of $71.80.
FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.11. The business had revenue of $434.90 million for the quarter, compared to analyst estimates of $421.35 million. FirstService Corporation had a net margin of 2.84% and a return on equity of 24.64%. The company’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 EPS. On average, analysts expect that FirstService Corporation will post $1.96 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 29th were issued a dividend of $0.1225 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.49 annualized dividend and a dividend yield of 0.69%. FirstService Corporation’s payout ratio is currently 39.20%.
FirstService Corporation declared that its Board of Directors has authorized a stock buyback program on Thursday, August 17th that authorizes the company to buyback 3,100,000 outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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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