FirstService Corporation $FSV Shares Bought by Accretive Wealth Partners LLC

Accretive Wealth Partners LLC lifted its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,883 shares of the financial services provider’s stock after acquiring an additional 88 shares during the quarter. Accretive Wealth Partners LLC’s holdings in FirstService were worth $1,202,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Vista Finance LLC grew its position in shares of FirstService by 4.1% in the 2nd quarter. Vista Finance LLC now owns 2,081 shares of the financial services provider’s stock worth $363,000 after acquiring an additional 81 shares in the last quarter. William Blair Investment Management LLC boosted its position in FirstService by 1.1% during the 2nd quarter. William Blair Investment Management LLC now owns 511,487 shares of the financial services provider’s stock valued at $89,316,000 after purchasing an additional 5,542 shares during the period. Catawba River Capital boosted its position in FirstService by 2.8% during the 2nd quarter. Catawba River Capital now owns 47,709 shares of the financial services provider’s stock valued at $8,331,000 after purchasing an additional 1,299 shares during the period. Allianz Asset Management GmbH boosted its position in FirstService by 94.1% during the 2nd quarter. Allianz Asset Management GmbH now owns 11,229 shares of the financial services provider’s stock valued at $1,954,000 after purchasing an additional 5,445 shares during the period. Finally, Ritholtz Wealth Management boosted its position in FirstService by 59.1% during the 2nd quarter. Ritholtz Wealth Management now owns 3,456 shares of the financial services provider’s stock valued at $604,000 after purchasing an additional 1,284 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Up 0.2%

Shares of FirstService stock opened at $183.26 on Monday. The business’s fifty day moving average price is $195.75 and its two-hundred day moving average price is $183.59. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.76 and a quick ratio of 1.76. The company has a market capitalization of $8.36 billion, a P/E ratio of 58.74 and a beta of 0.99. 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 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 firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the business earned $1.36 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts forecast that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 30th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, September 30th. FirstService’s payout ratio is currently 35.26%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded FirstService from a “hold” rating to a “buy” rating in a research report on Sunday, September 7th. TD Securities restated a “hold” rating on shares of FirstService in a research report on Thursday, September 4th. Weiss Ratings restated a “buy (b-)” rating on shares of FirstService in a research report on Wednesday, October 8th. Scotiabank boosted their price objective on FirstService from $210.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 30th. Finally, Zacks Research lowered FirstService from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $217.75.

FirstService Company 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.