Signaturefd LLC Has $241,000 Position in FirstService Corporation $FSV

Signaturefd LLC increased its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 14.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,379 shares of the financial services provider’s stock after purchasing an additional 169 shares during the quarter. Signaturefd LLC’s holdings in FirstService were worth $241,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FSV. Orbis Allan Gray Ltd lifted its holdings in shares of FirstService by 18.8% during the first quarter. Orbis Allan Gray Ltd now owns 1,417,190 shares of the financial services provider’s stock worth $235,183,000 after buying an additional 224,125 shares during the last quarter. Brown Advisory Inc. acquired a new position in shares of FirstService during the first quarter worth approximately $30,523,000. Goldman Sachs Group Inc. lifted its holdings in shares of FirstService by 79.5% during the first quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider’s stock worth $52,880,000 after buying an additional 141,152 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of FirstService by 61.6% during the first quarter. TD Asset Management Inc now owns 335,542 shares of the financial services provider’s stock worth $55,637,000 after buying an additional 127,846 shares during the last quarter. Finally, Geneva Capital Management LLC lifted its holdings in shares of FirstService by 52.3% during the first quarter. Geneva Capital Management LLC now owns 362,293 shares of the financial services provider’s stock worth $60,123,000 after buying an additional 124,385 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

FirstService Stock Performance

Shares of NASDAQ:FSV opened at $187.71 on Friday. The business’s fifty day moving average price is $198.44 and its two-hundred day moving average price is $182.22. FirstService Corporation has a fifty-two week low of $153.13 and a fifty-two week high of $209.66. The stock has a market capitalization of $8.56 billion, a price-to-earnings 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 (NASDAQ:FSV) (TSE:FSV) last announced its quarterly 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. FirstService had a return on equity of 18.24% and a net margin of 2.61%.The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. As a group, analysts predict that FirstService Corporation will post 5.27 EPS for the current fiscal year.

FirstService Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, September 30th. FirstService’s dividend payout ratio 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.