Northern Trust Corp Buys 18,977 Shares of FirstService Co. (NASDAQ:FSV)

Northern Trust Corp increased its holdings in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 41.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 64,496 shares of the financial services provider’s stock after acquiring an additional 18,977 shares during the period. Northern Trust Corp owned about 0.14% of FirstService worth $11,675,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Trust Co. of Vermont bought a new stake in FirstService during the 4th quarter valued at $46,000. Natixis raised its position in FirstService by 5,511.1% during the 4th quarter. Natixis now owns 505 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 496 shares in the last quarter. Blue Trust Inc. raised its position in FirstService by 158.2% during the 4th quarter. Blue Trust Inc. now owns 728 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 446 shares in the last quarter. Gitterman Wealth Management LLC bought a new stake in FirstService during the 4th quarter valued at $201,000. Finally, Congress Asset Management Co. bought a new stake in FirstService during the 4th quarter valued at $232,000. 69.35% of the stock is owned by institutional investors.

FirstService Trading Up 0.0%

Shares of NASDAQ:FSV opened at $175.63 on Friday. FirstService Co. has a 12-month low of $141.26 and a 12-month high of $197.84. The business’s fifty day simple moving average is $169.95 and its 200-day simple moving average is $178.22. The company has a market capitalization of $7.98 billion, a PE ratio of 59.13 and a beta of 1.04. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. FirstService had a return on equity of 17.15% and a net margin of 2.58%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the business posted $0.67 EPS. The business’s revenue was up 8.0% compared to the same quarter last year. As a group, equities research analysts predict that FirstService Co. will post 5.27 earnings per share for the current fiscal year.

FirstService Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 30th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.10 annualized dividend and a yield of 0.63%. FirstService’s dividend payout ratio (DPR) is 38.06%.

Analyst Ratings Changes

FSV has been the subject of a number of research analyst reports. StockNews.com lowered FirstService from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. TD Securities lifted their target price on FirstService from $198.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday, May 7th. Scotiabank cut their price target on FirstService from $217.50 to $210.00 and set a “sector perform” rating on the stock in a report on Thursday, April 17th. Finally, Raymond James lifted their price target on FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, FirstService has an average rating of “Moderate Buy” and a consensus price target of $206.33.

FirstService 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.