FirstService Corporation (NASDAQ:FSV) Position Boosted by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,784 shares of the financial services provider’s stock after buying an additional 76 shares during the quarter. Allianz Asset Management GmbH’s holdings in FirstService were worth $959,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sargent Investment Group LLC grew its holdings in FirstService by 1.2% in the 1st quarter. Sargent Investment Group LLC now owns 28,837 shares of the financial services provider’s stock worth $4,786,000 after buying an additional 331 shares in the last quarter. Montrusco Bolton Investments Inc. boosted its position in FirstService by 46.2% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 93,515 shares of the financial services provider’s stock worth $15,504,000 after acquiring an additional 29,567 shares during the period. Jacobson & Schmitt Advisors LLC grew its stake in shares of FirstService by 2.4% in the first quarter. Jacobson & Schmitt Advisors LLC now owns 96,311 shares of the financial services provider’s stock worth $15,983,000 after purchasing an additional 2,233 shares in the last quarter. Diversify Wealth Management LLC increased its holdings in shares of FirstService by 4.4% during the first quarter. Diversify Wealth Management LLC now owns 2,127 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 89 shares during the period. Finally, Parr Mcknight Wealth Management Group LLC raised its stake in shares of FirstService by 10.1% during the first quarter. Parr Mcknight Wealth Management Group LLC now owns 7,369 shares of the financial services provider’s stock valued at $1,223,000 after purchasing an additional 679 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FSV. TD Securities lifted their price target on FirstService from $200.00 to $211.00 and gave the company a “hold” rating in a research report on Friday, July 25th. Scotiabank raised their target price on FirstService from $210.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, Wall Street Zen raised FirstService from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, FirstService presently has a consensus rating of “Moderate Buy” and an average target price of $217.75.

FirstService Trading Down 0.2%

NASDAQ FSV opened at $197.22 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.94 and a debt-to-equity ratio of 0.99. FirstService Corporation has a 1-year low of $153.13 and a 1-year high of $201.10. The firm’s fifty day simple moving average is $178.97 and its 200-day simple moving average is $175.29. The company has a market capitalization of $8.97 billion, a PE ratio of 63.21 and a beta of 0.99.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.26. FirstService had a return on equity of 18.24% and a net margin of 2.61%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the firm posted $1.36 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 30th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, June 30th. FirstService’s dividend payout ratio (DPR) is 35.26%.

About FirstService

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.