Public Employees Retirement System of Ohio Has $2.40 Million Position in FirstService Corporation $FSV

Public Employees Retirement System of Ohio lessened its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 8.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,770 shares of the financial services provider’s stock after selling 1,192 shares during the period. Public Employees Retirement System of Ohio’s holdings in FirstService were worth $2,402,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of FirstService by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,815,548 shares of the financial services provider’s stock valued at $301,051,000 after acquiring an additional 20,872 shares during the period. Orbis Allan Gray Ltd lifted its position in shares of FirstService by 18.8% during the 1st quarter. Orbis Allan Gray Ltd now owns 1,417,190 shares of the financial services provider’s stock valued at $235,183,000 after acquiring an additional 224,125 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of FirstService by 2.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 671,431 shares of the financial services provider’s stock valued at $111,424,000 after acquiring an additional 15,334 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of FirstService by 27.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 533,385 shares of the financial services provider’s stock valued at $88,459,000 after acquiring an additional 115,898 shares during the period. Finally, Copeland Capital Management LLC lifted its position in shares of FirstService by 7.2% during the 1st quarter. Copeland Capital Management LLC now owns 382,852 shares of the financial services provider’s stock valued at $63,534,000 after acquiring an additional 25,829 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD Securities restated a “hold” rating on shares of FirstService in a report on Thursday, September 4th. Wall Street Zen upgraded shares of FirstService from a “hold” rating to a “buy” rating in a report on Sunday, September 7th. Scotiabank upped their price objective on shares of FirstService from $210.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 30th. Finally, Zacks Research downgraded shares of FirstService from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $217.75.

FirstService Trading Down 0.2%

Shares of FSV opened at $187.71 on Friday. The firm’s 50 day simple moving average is $198.44 and its 200 day simple moving average is $182.22. The company has a market capitalization of $8.56 billion, a P/E ratio of 60.16 and a beta of 0.99. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.76 and a quick ratio of 1.76. FirstService Corporation has a 1-year low of $153.13 and a 1-year high of $209.66.

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

FirstService Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.10 annualized dividend and a dividend yield of 0.6%. FirstService’s dividend payout ratio (DPR) is 35.26%.

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.